That argument has been harder to make with time. A couple years ago I made the difficult decision to get rid of some old game copies. I wasn't realistically going to use them ever again, and the sentimental value for me is entirely about the memory, not the media. Part of my steam collection is nearly as old and it is on track to greatly outlast. It is also significantly easier to own and use in just about every aspect, even if it is technically just a revocable license.

Beyond that, Steam and the digital media model allowed a great many people to publish games that wouldn't otherwise have been able to publish games. It made the indie world of games possible. It also did more than anyone to bridge the platform gap between windows and linux.

PC game piracy was pretty mainstream back then. It was a real problem for video game creators.

But Steam is also more annoying than it needs to be, especially forcing updates and not letting you transfer games so it's not comparable to owning a disc.