Yeah, the SSA actually says you're a subscriber and not a game-owner. So, pretty much - Valve's already got the legalese covered, pretty much...in case they don't do so.

Valve's just a distributor of games digitally. While they might do it for their own games and maybe de-activate say any Steamworks running in the background needs - that's still a big assumption. Until it actually happens - yep, it's all GUESSING game here. There's no guarantees, until it actually happens - and well, it certainly has NOT happened yet.

Also, who knows if they'll actually do so. Why would they need to, as long as they're in business? [shrug]

Also, who knows if someone like say EA or Microsoft say buys Valve and Steam out and...well, the parent company just doesn't do anything about this or doesn't allow Valve to remove the DRM-check?

It's likely going to take dev's themselves and publishers to decide what to do on Steam for their games - to free the EXE from needing Steamworks; to make sure DLC's/Expansions/Extra stuff work without Steamworks running; not rely on any servers for the game and all its single player portions to work; to allow for LAN support for MP skirmish modes so those work; etc etc.

There's some older games (like DOSBOX games), some Indies, some AA's, and some AAA's (likely older) that ain't protected - and will work without Steam. We need more that happening not just on Steam, but other services (like Origin, UPlay, etc) too.