I think the biggest point is, that developers need money (the publisher pays the developers), because without money they can't work on a project for years. And STEAM vs. Retail, I always buy the Retail, because I like to hold something in my hand and to have the box etc., and if you believe me or not, many people think so. The publisher wants to decide, whether the game is released for consoles or not, because you can get a lot of money with just porting a finished game for the consoles. If the publisher would not have the right to tell them to port the game, they could say "do what we said or find a new publisher".


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