Even if we ignore the silicon shortage, it doesn’t make sense for Valve to set up the facilities and supply chains to fully satisfy the day-one demand, only to shut them down months later when the demand falls off and no longer justifies the expense of operating them. The up-front cost of setting up additional factories, especially for the custom high precision optics, would be a massive waste. The other option would be to build up a larger stockpile before the product is released, but then you’d still be waiting all the same.

In terms of hardware, Valve is not a significant player. They sell niche products meant for enthusiasts, and the lottery is the most pragmatic way to get them into hands.