Firing Sweeny would be a start.
Mostly, I think it has a PR and direction problem. It works alright, its not crap software, the more money to devs angle is fantastic, but no ones going to use it when its figurehead reminds everyone he's a big jerk via Tweet every week, or sends its development in precisely the wrong direction.
If I was in charge of EGS, I'd buy GoG, merge under the GoG brand, merge the storefronts, keep the GoG UI for branding but port EGS features over to the buggy Galaxy client.
Keep the GoG DRM free installer option. Keep the reasonable store fee. Dump the toxic EGS brand.
THAT would be a competitor to Steam, and theyd actually have the ethical high ground.