If you don’t retain some kind of actual ownership, they will not be allowed to use terms like “buy” or “purchase” on the store page button. I hope there aren’t huge holes in this that allow bad actors to get around it, but I certainly loathe the fact that there’s no real way to buy a movie or TV show digitally. Not really.
EDIT: On re-reading it, there may be huge holes in it. Like if they just “clearly tell you” how little you’re getting when you buy it, they can still say “buy” and “purchase”.
Games sold on Steam are not required to use Steam’s DRM. There are lots of DRM free games on Steam. Steam is only required to be installed to purchase/download them but not to run them. After download, the game files can be copied and ran on any computer without any verification.
So they’re not DRM free then if you need Steam to download them. You also need to be connected to the internet at least once to confirm ownership, so even if you download it once and think that you can now just transfer the game from one PC to another without an internet connection or without Steam, you can’t.
DRM free and owner ownership means physical.