mmm, the trouble is your assuming that there is a possibility of a DRM-free entertainment world. Which although that would be ideal, is not going to happen.
So I would prefer a system that at least attempts to be fair.
As for your list:
Yes it needs installing, but also allows easy uninstall, better than every other DRM.
True, but then again it is an option, and doesn't need to run to play the game.
Ad's? The only ad's I see are when you start an unpatched game, and even then they are poor (as in wouldn't convince anybody of anything) advertising for valves own stuff.
Connected to the internet is a problem for mobile gamers, but MS and the other OS's also assume constant online, so can't blame valve there.
Force's updates, that's a good thing...most games are buggy even single player, at least you get a simple to use system (no arsing around with versions, patch levels etc)
10 years down the road, tbh who cares, it will have either been replaced or outdated. Tbh I think it now has enough backers, can't think of many publishers left not on it, that it will survive. Besides no worse or better than any other DRM.