Do you guys think Steam sales devalue games?

Do you guys think the regularity of Steam sales devalues games?

I like them just as much as the next guy, but they've become such a regular and frequent thing that people completely anticipate them now. I remember in the days leading up to it, people were actually waiting with bated breath for the sale to start. Valve hadn't announced a sale was happening, but we all knew it was coming anyway. It was more prevalent to me than it's ever been in any time period before a sale.

I feel like it's one thing to buy something, and be mildly surprised and/or disappointed later on when you see it's on sale for less than you paid for. But it's another to know for a fact that, sooner rather than later, that game you're eyeing will make an appearance in some massive sale.

Black Friday is the only instance that comes to mind where people know and wholly anticipate big sales. But that only happens once a year, whereas Steam does similar discounts all year round, even on a daily basis. Even stuff like these gigantic pack deals they do, where you can pay $50 and essentially buy out a publisher's entire library of games on the store.

Sometimes I wonder if having this expectation of a discount is a good thing. Just thinking aloud, I suppose.