Name ONE feature that doesn't work. Because I use Steam a lot, and there aren't any features that are broken.
Easy.. For me, it's Steam's 'auto update' for ITSELF.
I got Civ V for pc. (considering it doesn't come out for anything else).
Because of someones idiocy at 2k/Firaxis/whatever, I was forced to install steam.
Once a week, even though I have Steam set to OFFLINE ONLY, it has done a self-update, and locked-up. Because it locked up, I was unable to play the game that REQUIRES Steam to be up and running to start. I'd say 'any' game, but as i only have the one, doesn't really matter. The lock-up has gone on for more than an hour each time, and once required me to reboot my system to get it to work properly. Steam itself is a feature I can do without.
I tend to prefer gaming on consoles (and surprise surprise, I've not had uber-long load screens or major bugs on the Xbox 360 version of New Vegas). But even if I didn't, I would do my best to avoid Steam, and I have in the past. I was sorely tempted to return Civ V as soon as I installed and realized Steam was required. If it wasn't 4 weeks past, I'd likely be even more tempted.
I realize some people love it. I don't. There is NOTHING that Steam offers me that I couldn't already do elsewhere, and honestly, better.
In case you couldn't tell. I rather side with the OP