The bigger issue is that because of the market power of these digital storefronts, it doesn't matter what your mental model of the transaction is, you don't have a choice in the matter. Yes, online stores with better terms exist, but they don't tend to have the games that you'd want to buy.

I always get a warm feeling when a game I'm interested in has an itch.io link, but I'm not gonna delude myself into thinking it'll ever replace Steam, even if Steam had to stop calling itself a store. Steam is just far too established, and the network effect is just way too strong.