If you don’t retain some kind of actual ownership, they will not be allowed to use terms like “buy” or “purchase” on the store page button. I hope there aren’t huge holes in this that allow bad actors to get around it, but I certainly loathe the fact that there’s no real way to buy a movie or TV show digitally. Not really.
EDIT: On re-reading it, there may be huge holes in it. Like if they just “clearly tell you” how little you’re getting when you buy it, they can still say “buy” and “purchase”.
But the steam network is still around. When steam actually shuts down and no longer has the infrastructure to provide downloads for games, I have no idea what their plan is. They hypothetically could provide a way to remove the DRM, but I doubt that it’s something the publishers of games would allow.