That pretty much sums up how people feel about DRM. They also feel like that about security, btw.
It must not cut into what they want to do. It must not disrupt their experience. People don't mind DRM, just like they don't care about security. They're fine with either as long as it does not keep them from doing what they want to do. Within reason, of course. DRM will keep them from distributing copies, security will keep them from installing malware.
That certainly bugs a few users. But, and that's the important thing, not the majority of them.
While on the other end of the scale there is crap like the stunts that UBIsoft and EA have been trying to pull, with perpetual connection to servers for single player playing. Which predictably backfired to the point where you could not play their games if you bought them while your buddies who copied them could play them just fine. That does bother them. That bothers them like the overzealous security suite that keeps them from starting their games because they use some warped loader or because it doesn't like how the anticheat module hooks into the data stream to the server.
Steam found that sweet spot where most people put up with it. It's actually even more convenient for most people than the old "put the original CD in" DRM. Simply because you don't even need to have your CD ready. Steam also offers additional value, another key element if you want your DRM to take off.
DRM by its very definition lowers the value of the product to the user. At the very least it creates some kind of inconvenience. It forces you to do something to get what you want, even if that only means you have to insert that damn CD (which you can never find when you need it) or that you can only install it on one computer at a time. Steam offers that additional value, by keeping games up to date as well as setting some standards. Sadly not in terms of quality of the game, but at least the games have to install smoothly to be part of the fold. Something that can sadly not be said for all such services.