NO, you don’t own them as you would a traditional game on physical media. With Steam games you are simply paying a flat free upfront for a subscription to play the game under Valve’s terms. You can ultimately only play the games if Valve and Steam allow you to do so and only so long as it allows you. Steam’s built-in DRM ensures and enforces that Valve and Steam retain control over the games to which you are subscribed.

“How is it a subscription service?”

I knew you were stupid, but I didn’t know you were that stupid. Despite being such a Valve and Steam sycophant you obviously never bothered to actually read the Steam SUBSCRIBER Agreement at http://www.steampowered.com/v/index.php?area=subscriber_agreement or at least the title of it. As defined by Valve in that agreement, Steam is a subscription service and the games and other content offered via Steam are tenuous “subscriptions” not products. And, the Steam Subscriber Agreement is not just a paper tiger like most software EULA’s since Steam’s DRM gives Valve the ability to enforce that agreement and its other policies regarding the use of Steam at any time with “zero-tolerance” ( see https://support.steampowered.com/kb_article.php?ref=5406-WFZC-5519 for details ).

No, they’re not. Since Steam is nothing but a tenuous subscription service, a consumer is much better off with Gametap for those games. Every one of those games is available on Gametap, and for only $10 (one-tenth Steam’s price for a subscription to the same games) you can play every one of them in a month. Since almost all of those are only single-player games, one or two play-throughs at most is all one would get or want out of them anyway.