I'm not trying to downplay the negatives.
With all due respect, that's exactly what you're doing. If you say, "This is not a problem unique to Steam," you are downplaying the problem.
Argumentum ad populum. Just because suppression of resale is an issue endemic to digital distribution platforms doesn't mean it's not an issue -- it impacts previously clear consumer rights. Disregarding the legality, ethics, and technical challenges surrounding this, it's still an obvious point against Steam.
I'm just trying to say we should worry more about playing the games than whether we will be able to play them at some arbitrary time down the road. Regardless of how you see it, buying software is about consumption and not about investment. As fun as it is, this hobby is a money pit and trying to justify it as anything but is silly. That is all. I'm all about enjoying my hobby, not declaring every roadblock as a stumbling block to happiness. If that means I'm more for Steam than against it, then so be it.
I agree to an extent, which is why I do use and enjoy Steam for some things, but what it sounds like you're saying is that we shouldn't care about having value stripped from entertainment or hobby purchases -- and with that, I disagree strongly.
As to predicting the life of Windows, I made no such claim. I'm claiming, as many studies have shown, that x86 is a tired platform that will eventually be replaced with something more efficient and more capable.
Strawman. The point isn't whether x86 will remain an active platform forever or even if it will outlive Steam (which I'm certain you can't predict, despite your claims). It's that Steam represents a single point of failure because its utility depends on
ongoing support from a single company.
Anecdotally, I have several physical copies of Windows and a bunch of games. I'm confident that I will probably have access to hardware that can run these things until the day I die. But software companies come and go, and despite Steam's (and Valve's) increasing success in the present, I can't say with the same confidence that its servers will always be around and that the games I've purchased there will have the same longevity. That decreases its value for me, whether or not I actually want to play Torchlight when I'm 80.
We've ran into each other before, and its obvious you have strong views about physical software ownership and end user rights, whereas I am much more on the side of property rights and software authorship. We can just agree to disagree.
I'm fine with that, as long as you don't misrepresent or distort the facts about the shortcomings of this platform -- none of which I described as an outright dealbreaker, you might note. The OP asked for pros & cons and got them.