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Project Helix, the next XBOX console, is not expected to feature a disc drive
(news.instant-gaming.com)
This is a most excellent place for technology news and articles.
What would be the recourse? let's say, magically, Steam goes out of business. Files Chapter 11, restructures, doesn't work out, no one buys their IP, closes up shop. servers go offline.
Sure they could have open sourced the servers, removed DRM (the publisher would be the more important one for that though), etc. But if they didn't, they just went under, ran out of money, and they're gone. Who are you going to sue? How will you get them to do the above? Why would they care? They no longer have money or resources to make it happen anyway. Can't squeeze blood from a turnip.
This is a solved problem.
A company going out of business and customers losing access to their IP is a very common concern for software businesses. The common way to deal with this is using an escrow service.
A copy of all the IP (e.g. source code) relevant to a license is stored at the escrow service (and regularly updated if necessary). If the supplier goes bankrupt, the escrow service is authorized to release the IP placed under escrow to the customers.
You could do something similar for Steam. Pay a 3rd party to keep a copy of all content that is authorized to release it if the original company goes out of business.
I'm not a legislator, so I don't know what enforcement mechanisms should be. But what I do know is that anything that eliminates this blatant theft from consumers would be a good thing.
Sadly, you likely signed off on the EULA that you only own a temporary license and that you wave rights to that under certain circumstances and everything else that means you don't actually own a copy of the game in perpetuity. which means it's not actually theft.
But this is why I buy DRM free stuff from places like GoG and back it up myself. (and don't often buy AAA games, or games with anti-cheat)
I don't care what a EULA said, it's still theft. If I signed away my right to be compensated for my labor, it's still slavery.