They will bundle a killer app with it, just like steam did with half life 2.
Further segmenting your software between services, is exactly what people use Steam to AVOID. The fact that everything is in one place, no lost keys, no lost disc, is its selling point. It's bad enough I have to also use Origin to play some key games. So I'm certainly not going to further dilute my libraries.
Between Carmack and Facebook's ability to buy any developer who is on the market I think they can put up a solid contender at launch. Probably won't be enough though; I see this more as a Tidal or Apple Music kind of move--existing major player enters the market with desirable exclusives or platform integration but fails to break out of the middle of the pack.