You have no idea what you are talking about.
They did no such thing.
All transactions on Steam have ALWAYS been "Subscriptions".
bit off aint it m8 to get into a convo with "You have no idea what you are talking about" you silvered tongued mofo
when i referred to it as a leased license is basically the same thing
http://store.steampowered.com/subscriber_agreement/
As a Subscriber you may obtain access to certain services, software and content available to Subscribers. The Steam client software and any other software, content, and updates you download or access via Steam, including but not limited to Valve or
third-party video games and in-game content, and any virtual items you trade, sell or purchase in a Steam Subscription Marketplace are referred to in this Agreement as “Software”; the rights to access and/or use any services, Software and/or content accessible through Steam are referred to in this Agreement as "Subscriptions."
2. LICENSES
A. License Terms.
Steam and your Subscription(s) require the automatic download and installation of Software onto your computer. Valve hereby grants, and you accept,
a limited, terminable, non-exclusive license and right to use the Software for your personal use in accordance with this Agreement, including the Subscription Terms.
The Software is licensed, not sold. Your license confers no title or ownership in the Software. To make use of the Software, you must have a Steam Account and you may be required to be running the Steam client and maintaining a connection to the Internet.
You understand that for reasons that include, without limitation, system security, stability, and multiplayer interoperability, Steam may need to automatically update, pre-load, create new versions of or otherwise enhance the Software and accordingly, the system requirements to use the Software may change over time.
You understand that this Agreement (including applicable Subscription Terms) do not entitle you to future updates, new versions or other enhancements of the Software associated with a particular Subscription, although Valve may choose to provide such updates, etc. in its sole discretion.
section 10 C
C. Termination by Valve.
Valve may cancel your Account or any particular Subscription(s) at any time. In the event that your Account or a particular Subscription is terminated or cancelled by Valve for a violation of this Agreement or improper or illegal activity, no refund, including of any Subscription fees, will be granted.
I'm assuming the licenses are through steam. license being a subscription or however they want to word it.