Since Valve bans don't remove your access to your games this whole discussion is kinda moot, but upon finding this out I am disappointed in Valve.
I was under the impression that if someone did something seriously wrong through Steam, Valve had a serious punishment to dole out. (thereby discouraging people from doing bad stuff) Instead I learned that their harshest punishment, is basically a slap on the wrist. You don't lose anything, and all it takes is for the person to make a new account to continue using the steam service.
Also, to the people who are upset at the very idea of Steam "Taking away your games" I have a perspective to propose. Steam is not taking away your games, they are no longer allowing you to use your service. If you have all your games stored on a spare hard-drive, then you are still allowed to play them directly as much as you want. The only thing "Valve taking your games" would mean is that they turned off your access to their servers and wouldn't allow you to use their remote storage anymore.
In other words, if you're paranoid about Valve taking your games (which they don't actually do) then pay 50$ to buy another HD and store your games on that. Or, you could just not use Steam, I guess. It's no skin off my nose.
One more time for the people in the cheap seats. This post is hypothetical in nature, because:
Valve does not take away your games even when they ban accounts. ... because Valve is awesome. (I admit I am a big steam fan)
Elmoth said:
But why do they hate steam?
Because it's the hero gamers deserve, but not the one they need right now. So, we'll hate it, because it can take it. Because it's not our hero. It's a silent guardian. A watchful protector. A Dark Knight.
^This made me giggle like an idiot. Thank you Sir/Madam.