Ok then, quote me some pieces out of it where it says they can just shut down and two million people their games they bought, because apparently you know what you're talking about.
Well, here's one of the nice parts:
"In the case of a one-time purchase of a product license (e.g., purchase of a single game) from Valve, Valve may choose to terminate or cancel your Subscription in its entirety or may terminate or cancel only a portion of the Subscription (e.g., access to the software via Steam) and Valve may, but is not obligated to, provide access (for a limited period of time) to the download of a stand-alone version of the software and content associated with such one-time purchase."
I'm sure you can understand what that basically means. And the other thing is that Valve has NO legal power to give any support for third party products nor can they provide downloads if they go under. It's all in the ToS. You REALLY do need to read it since you haven't before spouting how godsend Steam is.