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Gearbox CEO Randy Pitchford says his hopes on Epic Store were 'overly optimistic or misplaced'
(www.tweaktown.com)
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They can't sell the games cheaper than steam as the steam's conditions doesn't let devs sell games on steam if the game is available for cheaper somewhere else.
This is only true for steam keys. https://partner.steamgames.com/doc/features/keys
That doesn't apply to exclusive games which also don't have lower prices.
How could it apply to exclusive games if they don't exist in steam in the first place
Industry standard prices exist. If an exclusive matches them you aren't getting a discount.