The law didn't change Steam. It was always like that. Steam just added a note to clarify this. Nothing has changed really.
this post was submitted on 15 Oct 2024
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Nice, this is only the 90000000th time this has been posted! Seriously guys, STOP. This didn't change literally anything. It's just a clarification to comply with an upcoming California law.
STOP POSTING THIS IT'S NOT NEWS
It was always licenses on Steam, nothing changed in their ToS. Though there are some DRM-free games on Steam, even free from Steam-DRM.
It was technically always licenses for every video game ever commercialised. It's just that a publisher has no practical way to control what happens to someone's floppy/optical disc/cartridge/whatever physical media.
Like Kichae mentioned, every media we buy is technically a license. License to use. However we own the physical part of it and we can use (read, watch, play etc.) it whenever we please. Should be like this with games as well. At least GOG does this. As long as an installer is in our hard drives, it's a physical media.
Same for almost every book you've ever read, every CD you've ever listened to, and every movie you've ever watched. You owned the leaves of paper the book was printed on, or the plastic disc the music or movie was stamped into, but never the words, the songs, or the movie itself.
We've only ever had licenses to consume.