No, Steam is still in its (unusually long) first phase of enshittification, where it delivers surplus value to consumers.

Probably as long as gaben is alive, it will be so. But don't expect it to last. There's nothing special about Steam the platform.

You definitely don't own Steam games for real, and they don't ban randomly but for example, if you're caught cheating in a game, or talking about illegal things with your friends, you will find out how much you don't own those games.