Let's take worst case scenario. Every developer creates their own client. Ok so let's say you have maybe 15 games installed on your machine right now and out of those there are 2 from 1 developer, 3 are from another, and the rest are singles. So now instead of 15 shortcuts, you have 12 shortcuts. The difference for you is minimal.
Right now steam isn't perfect. I'd say it is a good start but lacks a few huge things. First, it doesn't run very quickly and is a bit of a hog. I'd rather someone built a more compact and tighter running application.
II think that if steam was perfect, nobody would have a problem with every game coming with a steam-esque frontend. It streamlines patching and multiplayer.
Personally, I'd rather have 1 Steam program that I could buy and patch all my games through flawlessly. But I doubt that would ever exist because it would be such a gaming monopoly.