Seems you not getting it. Offline buyers can not buy PC games at retail. That means they not buying PC games through digital distribution. That means they not buying Steam Sales.
PC games at retail needs internet activation. In other words PC games needs the internet before it can install. If you are a offline gamer, internet requirement means they can't buy and play the PC games.
So PC games at retail is for the online gamers not for the offline gamers. Your argument is pretty much one sided, online gamers. You not bring up the offline gamers in your argument. You are ignoring them. You are acting like they don't exist. Well concerning PC games, the offline gamers don't exist. And that is the problem.
Retail can not cater to the online gamers. And that is why PC games are not selling well in retail because the online buyers are preferring to buy at Steam. And retail is not dying. PC games at retail are dying. Console games at retail are still selling really well.
But I can't keep on saying the same thing. If PC games at retail catered to the offline buyers, like how The Witcher 3 is catering to the offline buyers at retail, then PC games will do ok at retail. But we got to get the offline gamers to buy PC games again. Retail can not cut off the offline gamers.
Online gamers have Steam and gog and Origin and Uplay and social club and battle.net and there will be others. And that's all fine.
Offline gamers have retail. They have taken PC games away from offline gamers at retail. And that is not fine. Retail can not cater to online gamers only because retail can't compete against Steam and it shows. But retail is still selling those console games though. So retail can sell those PC games if only PC games can cater to the offline gamers at retail.
I don't know how many times I have to say it.