In the Valley of Gods was to feature advanced water rendering technology
, by Thibaut
In 2018, Valve acquired Campo Santo, the studio behind the Firewatch narrative experience. Prior to this, the developer had announced its next game called In the Valley of Gods.
Alas, development was halted when the studio's entire team was dispatched to other projects at Valve, including Half-Life: Alyx. As a result, it's currently impossible to know whether this new license will see the light of day, despite the launch window set for December 2029 on Steam.
In any case, In the Valley of Gods is said to have introduced a rendering of water that is both impressive and realistic. This is shown in a short video released by Matthew Wilde, who handled the water shader on Counter-Strike 2.