Doesn't steam have a clause to the effect of "if we go out of business, you'll get X period to download your games so you can manage them yourself"?
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If there’s a grace period, perhaps, however:
- Steam does not provide installers for games, this means that whatever game you want, needs to be 100% functional and already be parsed/deployed/installed by steam on your hard drive.
- That game needs to be DRM free, meaning that it has an executable available that can be launched without steam running or requiring any sort of authentication or input from the steam servers/services before being able to launch, play or even interact with the menus
So only the DRM free games will remain, and only the installed ones at that. Anything that wasn’t will be lost to the wind the moment the distribution service or storage (yours or theirs) bits the dust…
As long as you understand the terms of your agreement with Steam as a platform, everything is fine. Physical media for games are outdated anyway, especially with frequent updates, patches, and DLC releases. Regarding older titles that are no longer supported, well, as the saying goes: "If buying isn't owing..."
2.1 We give you and other GOG users the personal right (known legally as a 'license') to use GOG services and to download, access and/or stream (depending on the content) and use GOG content. This license is for your personal use. We can stop or suspend this license in some situations, which are explained later on.
https://support.gog.com/hc/en-us/articles/212632089-GOG-User-Agreement?product=gog
GOG has the same drawbacks as Steam without any of the useful features. They should cut down on their "owning games" lies and spend time improving their platform instead.