This is not Valve's first time at the rodeo, and they aren't a small indie company learning the ropes.
The apology was loaded with blame shifting and bragging about previous H1 payments, neither of these lead me to be more lenient with Valve.
The hacker is still banned from submitting bugs, for god's sake. Nor has he heard from Valve.
Edit: They even disputed the CVE, manually, removing any doubt that this wasnt an oopsie caused by a system.