Steam isn't a monopoly, by definition. It's a powerful and influential service, however, with the demonstrated ability to direct the market.
As for mods, I have no problem with modders having the ability to monetize their work, but I would prefer a donation system. The current plan threatens to fragment the mod community, at least in the short term. I hate to see foundational mods like SkyUI getting locked behind a paywall, especially when so many other mods already rely on their functionality. Some mods will have free and paid versions with different functionality, which will be a headache for other mod authors and for users. Mods can be confusing enough for players already, without adding another layer of complexity to the equation.
I have happily donated to mod authors via the donation system at the Nexus, and will continue to do so, but I'm wary of the Workshop monetization model.