Considering the keys activate through uPlay, their own service, they have control. If someone buys a Steam key from a GAME store then begins to cheat online Valve has every right to ban them from playing that game. Also, I highly doubt Ubisoft want to be implicated in allowing keys to be used if they were originally bought using stolen credit cards etc.
That's irrelevant, they're selling them to resellers, they need to get over it.
As for your comment on Valve, no they don't have every right to remove people's access to games just because they're cheating and it's absurd to even suggest that.
They have the right to ban them from official Valve multilayer servers, and maybe let others know that they're cheaters by indicating it on their profile, but that's it.
They have no right, legally or morally to actually stop them accessing a game that they have purchased.