Worgen said:
With the refund thing they added, they couldn't have flash sales anymore. It would mean they would have to deal with a bunch of returns from people who bought the game before it was on flash sale.
I'm not really sure that's the reason. I mean, worst-case scenario is that you effectively increase the flash sale length to "official flash sale length + refund policy length", and honestly, even that's not that bad. Sure, some percentage of people will be checking the website regularly and save a couple bucks here and there -- but then that means some percentage of people will be checking the website regularly, which is probably an overall plus.
Besides, a lot of online retailers will have a sort of "least price guarantee" for pre-orders: pre-order it at one price, and if the price drops before release, you only get charged the lesser price. I don't see how this would be all that different. Just treat purchases early in the sale as pre-orders in the event of a flash sale.
Ultimately, Valve could bypass the issue entirely with a policy stating that if you refund a game, you can't buy that game again for some period of time. Actually, I'd be a bit surprised to learn they don't have a policy like that already in place to prevent refund scamming. As long as that period was longer than 8 hours or however long a flash sale takes, refunds to hit flash sales wouldn't be a problem.
I suspect Valve just thought they were leaving too much money on the table with flash sales. Why give someone a game at 75% off if most people will still buy it at 66%?