I view Steam as a wolf in sheeps clothing if i'm honest. Everyone raves about it and how it's the hero but there's many bad things about it:
Price: Competition of online and highstreet stores push down prices. If steam was the one and only distributor we'd all be paying £30-35 for all new releases. Instead, thanks to competition, i got starcraft 2 on release day for £27, lovely.
Second hand market: The second hand market wouldn't exist if Steam was the only platform. I don't often sell games second hand but i do like to have the option if the game is rubbish.
'Peace of mind': I just don't like the idea of Steam having control of access to ALL of my Steam games. If my Steam account is banned, i lose all of my games. The only situation i can see this happening is a friend being stupid and installing hacks on my computer without consulting me, which ok is my own fault and i should be banned from a game for that. But losing access to ALL of my games? Potentially hundreds of pounds worth of stuff for one infraction in one game? Doesn't make sense to me.
Downloading: I have a rubbish internet connection thanks to Virgin bandwidth throttling. Downloading a whole game is a chore for me. Yes i could get a better net connection but, aside from Steam, i don't need it for any of the other things i use it for.
I like steam, i really do, but i feel it's found its niche in the market and should stay where it is. I don't want it becoming the one and only distribution platform.