>>267470076
Back around the release of the Valve Index they actually publicly stated that they would release a full-featured flagship VR title "this year".

Literally nobody in games media picked up on it, except some small-time VR sites.

Recently there have been a lot of Source 2 engine leaks (in dota2 updates) that support internal word of mouth leaks that most in-house development and effort is focused on HLVR right now as a prequel focused on Alyx Vance as the main character.

We're getting pretty close to the end of the year though, so it's probably gotten pushed back to next year.

A few weeks ago, somebody from Valve did a talk at Digipen about developing in VR which was implicitly about their "flagship title".
Didn't announce anything directly, but talked about the intuitive and unintuitive parts of creating a VR interaction with a door.

Might have something to do with Boneworks going silent as well, since I think they've been talking with Valve about the whole "physically based body" stuff, which some of the leaks suggest that Valve is also doing.