[manicdee]

Yeah, that little bit about "piss off Valve, lose access to everything you bought through Steam" also translates to, "Valve goes out of business, lose access to everything you bought through Steam".

Sure, they promise that if they do shutter the business they'll unlock all purchases. But that assumes the business is closed down in an orderly fashion.

[talmand]

You are quite right. It's also a good strategy to stay in business, "Buy your games from us to insure we stay in business so you can continue playing the games you bought from us."