Quote:
Originally Posted by
Shrak 
Point is, if you buy a game it should be yours to own. If you hack, cheat, misuses, abuse, or whatever else you can think of, they should simply be able to ban you from online play / use of the service. Not completely stripping you of your game that you rightfully paid for. It's not like the game company would come to your door and take back a physical copy that you bought, why can they do so with digital copies?

If I buy my son a copy of Lego Pirates of the Carribean, he has the right to play the game after I install it on his PC. The company has the right to protect it's intellectual property in the shape of copyright protection. If I abuse or infringe on those copyright laws, they are not coming after the copy of the game I bought, they are coming after me legally.
Same thing goes with what ever digital-content you purchase and what ever ToS, EULA, etc. you agree to when you install that digital content.
In the case of Steam/Valve... if you abuse or infringe upon the terms or agreement, they reserve the right to prevent you the use of their services, game included.