The manager believes that Sony is aware of Valve's capabilities.
Former Blizzard President Mike Ybarra continues to share his vision on various issues on social media. Recently, he decided to comment on the "insider" information that PlayStation exclusives will no longer be released on PC (only ports of game services will remain).
The manager generally supports this decision by Sony:
It's a shame if that's the case, but it makes a lot of sense (if the rumors are true). They see the situation with Xbox as the "final nail in the coffin" (I hope they get better).
According to Mike Ybarra, Sony now considers another company as a competitor — Va;ve
Most importantly: they see Valve as a major new competitor. Valve will enter the living room and the console market with its Steam Machine and, probably, third-party versions of all these devices running on SteamOS. Valve rarely makes mistakes, and Sony understands this. Releasing high-quality exclusive games matters. That's obvious.