It's to keep people from doing stuff like requiring refunds or court cases for being banned, VAC or otherwise. To make some things not technically gambling, etc.
Valve is the paragon of gamers. They offer a great portal, free no bs family shares, pressure companies into sales on legacy software. Push VR from meme status (the oculus is even originally stolen valve tech look it up). Steam stream, steam controller, steam deck emulation of Nintendo switch, Jesus it's endless.
And still there are people like you out here who have to lead with complaints about a bunch of text which everyone knows is exclusively for legal piss matches against companies and troublemakers.
I don't know how you can be pleased by anything. Isn't your life tiring living the life of a zealot? Or do you have just an unsatisfiable need to complain?
You're the one getting mad at steam for things they could "maybe" do in the future. Stop incepting yourself with fantasy and then posting about it. "Hey guys you won't BELIEVE what's in this EULA" "Did you know TECHNICALLY valve could just do whatever they want?!?"
From your post history you're older, you know EULAs are so ignored across the board that they're there for entirely legal reasons. Oh yeah a company that has done all this good, (for you especially, without valve it's safe to say there would be ZERO Linux gaming support like there is now.) But we better be ready for something that's just completely antithetical to their history of actions because of some creative writing episode you've dreamed up. Corporations are bad capitalism is bad, open software and Linux gaming only please. No rights, no AAA just indie titles and slow burn, artistically crafted projects of love.
You're like the vegans of computer science you're insufferable.