> This sort of thing wasn't really possible before the internet age. We need new laws to deal with it.
Yes, it was and it always has been[1]
>I disagree. The issue is these huge platforms can arbitrarily ban people and consumers have no recourse
This is par for course with every single EULA ever. I will say in the case of Steam it's hard pressed to find your account completely disabled and unable to play the games you rightfully purchased. I think the worst-case scenario is that you will be banned from engaging with the steam online community which restricts your ability to play with other users on steam
Redlining is not really the same as what we're talking about (but should also be illegal).
Redlining is the example that I am giving to show this has long been the behavior of businesses and unless its racist it's not illegal. Also read your EULAs