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Good news is that if more and more places start passing laws making it harder and harder for companies to do that, valve will just start allowing you to own the games for real.
I say this because valve has always bent like a reed when legislation forces them to make their platform more consumer-friendly
A good test for that was whether they would allow the inheritance of Steam accounts, but their staff said they wouldn't.
They just said that because thats what the liscence is non-transferable, it is piss easy to transfer ownership of an account.
Also dont forget family share