I agree with all your points... but... IMHO some things keeping Steam honest are services like GoG and if course the High Seas, but more than that there's the plethora of other entertainment options.

This isn't housing, air, or water. A person can just not play if it's too much hassle or too costly. If Steam or any given entertainment option isn't worth using, people just won't. There's no shortage of things to do other than play games, much less use Steam for gaming.

I agree that we shouldn't imagine Steam will never change, nor should we blindly worship or glorify Valve/GabeN. I just think that games and entertainment generally is an arena where market forces actually work to benefit the consumer.

Of course employment practices and company culture is a whole 'nother thing...