Exactly. Steam has just put a notice on its website that clearly says the games you buy are not yours. What you are buying is only a license that gives you the right to play the game. Nothing more.
I miss physical media. At least no one could come and take your game from your house. Bad times.
It’s always been like this, it’s nothing new, but Steam offers a very good service, especially compared to other stores, and if something happens with some game, like if you can’t play because of some update, like what happened with GTA 5 with the new “anti‑cheat” making it impossible for Linux and Steam Deck users to play multiplayer, Valve refunded everyone who couldn’t play, and now with the new law in California that forced stores to warn consumers—which, by the way, was inspired by Ubisoft and Sony, who motivated the creation of this law.
And there’s always GOG with no DRM and an offline installer, so you really do own your games there, and of course with piracy you also really own your games.
that’s why you really just have to buy physical media only