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Looks like the ending of Half-Life: Alyx :)

Pretty sure they keep starting and stopped it.

Crushed under the weight of fan hype and expectations I suppose.

Wasn't the semi-official reason that Valve teams can work on whatever they want, and no one really wanted to work on a Half-Life 3?

As a VR owner I am super grateful for Half Life: Alyx and kind of consider that to be the replacement for HL3 anyways..

My understanding is no one wanted to work on it for precisely that reason.