[alt_]

I would be more afraid of Xbox Live than the app store.

Buying is just a one time deal. Achievements and other social features of Xbox Live are constant and, if shared with the large Xbox network, will be very desirable for consumers.

[ralfn]

They are not afraid of losing the competition, they are afraid of not being allowed to compete.

Steam cant be on Metro, and the x86/classic-desktop will likely end up, only in the high end of the market.

Just like Apple, the common win8 consumer device will be in the 200-600 dollar range .. running on ARM, and completely block any competition from selling content. The privileges of backwards compatibility and "side-loading" will be available only on 800+ dollar devices.

So, Steam on windows has no future.

[Splenivore]

Games for Windows Live was not warmly received. It’s unlikely that this will be a killer feature.

[ralfn]

Microsoft does not allow competition on their OS this time around. So, Steam is no longer allowed to compete.

If there are no alternative, people may still hate it, but it will still be the killer feature.

[mdanger]

Steam supports achievements and some social features, although those aren't 1:1 with Live's social features.