Project Helix, the next XBOX console, is not expected to feature a disc drive
(news.instant-gaming.com)
What would be the recourse? let's say, magically, Steam goes out of business. Files Chapter 11, restructures, doesn't work out, no one buys their IP, closes up shop. servers go offline.
Sure they could have open sourced the servers, removed DRM (the publisher would be the more important one for that though), etc. But if they didn't, they just went under, ran out of money, and they're gone. Who are you going to sue? How will you get them to do the above? Why would they care? They no longer have money or resources to make it happen anyway. Can't squeeze blood from a turnip.