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Steam Now Warns Consumers That They're Buying a License, Not a Game During a Purchase
(www.cgmagonline.com)
this post was submitted on 11 Oct 2024
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It would mean that you were allowed to sell your license to somebody else, just as you would be able to with a physical copy.
It would mean that you could continue to have it, and be able to reinstall it on future hardware if Valve closed shop tomorrow.
Currently you can do neither of those things.