The Steam DRM is trivially bypassed and they don't seem to be interested in playing the cat/mouse game with it at all. It's not a great argument that you can crack things you already legally purchased, but I'm conflicted. If digital software could be reasonably/legally transferred, then it'd probably put most software companies out of business simply because the digital domain would enable efficient reselling of 'used' copies with an exponential decline in price.

This isn't a problem with physical copies because there's a lot of friction to selling stuff, and there's also something quite nice about having a physical collection of games, music, or whatever else. But with digital stuff there's no friction, and much less incentive to collect. The efficiency of the digital domain really messes with a lot of things we take for granted in the real world.