Found this thread from my activity feed on Steam. I also wonder what Steam would do to this "fan game", since it contains ripped sprites from other franchises. But I bet if anyone reports it en masse, Steam would delete it in a hurry.

Though judging from the prior case of Eternal Senia, mods probably won't do anything if no one bothered reporting. Since that game has character designs lifted right from Ragnarok Online, but it has been on the platform for years and downloaded by thousands.

https://steamhost.cn/app/351640/Eternal_Senia/

The difference is, one title is positively reviewed, while the other isn't.