Steam's legal footing looks pretty good to me. IANAL, but neither are you, and at least I was aware of recent case law movement on this issue. Why you weren't is puzzling, considering that it's been covered pretty extensively and recently here.
The reason is because of banal, annoying comments like this that reek of self-righteousness that caused me to walk away from Slashdot for awhile. So, in short... stuff off.