I know according to their license if steam ceases to exist you lose everything, but I can’t see them ceasing to exist and having it not end up being a bloody mess. There is no way with how large steam is that if they decide to file for closure tomorrow that regulators wouldn’t get involved in trying to provide a way that everyone doesn’t lose their games. I believe steam has hit the point that banks are where enough people use the platform that if it tried to close government is going to get involved

Of course this is under the understanding that it’s a just choose to close situation, if it is a financial issue, I would expect that people would see that coming ahead of time and they would have a longer period of trying to find out a solution. And that solution could very well end up being a court order saying every purchase that’s been on Steam has to be able to be played without the steam client when they close the doors