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Publisher / Developer Motivations: SSFIV for PC nixed

This is something Al, Pete and I are going to discuss on the podcast this Saturday, but I had to vent about it here. I'd love to hear your thoughts about this, either in the comments or as an email to our mailbag.
Recently on the front page of Giant Bomb, I saw this piece of news:
This spurs on a topic that I find myself annoyed with. Basically, the "official justification" is that due to piracy, Capcom doesn't think it'll make money if it releases Super Street Fighter IV on PC. Piracy was listed as a major concern, so why not release it on Steam? The response to that was that they don't want to release it only on Steam as because it would be "unfair" to those PC gamers who don't have Steam.

I have numerous problems with this.  
1) Steam itself is free to download and sign up for. It is also awesome.
2) Both Mac Users and PC Users can get Steam.  
3) Street Fighter IV itself already forced an install for Games For Windows Live*, in and of itself a piracy preventive measure (which it really janked when you bought Street Fighter IV on Steam because you were loading GFW Live within Steam. Uh, what?) 
4) So you're telling me that it would be better to be unfair to the entirety of PC gaming by not releasing it at all, than to alienate some folks who aren't on Steam but could easily get it? Even though, again, GFW Live itself is already an anti-piracy measure and you don't have to release it on Steam? 
There has to be some alternate motivation for Capcom to not want to release the game on PC, and although in the end it really doesn't matter to me as a consumer, I'd still really like to know what it is. If the justification is simply that, "Dude, we just won't turn a profit on it; not enough people will want to buy it on that platform, period, the end," then okay. Say that. Maybe you'll annoy me slightly by saying that, but you'll also be telling me the God's honest truth and a reason that makes sense from a business perspective. Not wanting to release it just on Steam because of their reasons is both a bogus reason and also a moot point, and hearing what sounds like bogus reasoning frustrates me much more than giving me the straight-up business reason. 
*Note: I have no idea if GFW Live has widespread and vicious hacks allowing for pirated copies to be played, but if so, then well, that kinda sucks.