Ok, so am I right in assuming that Steam is a centralized system lets you download games BUT that has a client that dwells on your computer and has to approve of your account before your computer will play the game you paid for.
If for any reason it doesn't like you, you don't get to play that game. So you bought it, you paid for it but it still belongs to them, am I right?
Also the Steam client is monitoring your computer use and tattling on you to Steam HQ.
Am I right about this, please?