Well, apart from a few technicalities the article is correct (It draws some connections that are simply not there). As I said countless times ago, no company can force acceptance to an ToS change. (They could simply change the ToS in many case without asking, however.)
Remember, Steam is considered a service, not the purchase of nonconsumable goods. Every damn time you buy something on Steam, you agree to basically that..
I can't count how many times I have to correct this.
Yes, Steam is a service, but you buy the gaming licenses just as if you bought them on any other DD store. The SSA is just a contract tying those licenses to Steam. But you own the license and Steam can't take it away. They can cancel the SSA in regards to each game, but that makes them liable for damages if they don't "unlock" the game first.