With Steam at least you only pay once (and FYI some Steam games don't have any DRM but they are a minority). I'd have to dig but the impression that is in my memory is that you would get a game for a time period for a price and then pay again if you wanted to play again. I could be remembering completely wrong here though, I just don't recall the idea of "pay once, play until we go out of business".

Steam is a pay-once indefinite rental, the same as any other software that is sold with fine print that disclaims first-sale rights with the excuse that it's only a license, not a sale. This is very different from a fixed-term renewable rental.

How is that any different from Xbox One? Buy a disc off the shelf, get caught swearing online, get banned from Xbox Live and lose everything!

Far as I know, nobody was banned from Steam for swearing online.