You do know you can store your games in another hard drive as a backup? Steam games are stored on your drive so they can't "take" them away. The only thing they could do is prevent you re-downloading the game but you already have a copy right?

I know what they are doing is legally and morally ambiguous but most companies are adopting the same thing so there's not much we can do about it. I mean, if we had stopped Adobe from doing it years ago, it would have discouraged companies from doing this shady practice.

Just store your games in a separate harddrive and you're good.