Yes for the most part.

Even though you technically don't "own" steam games legally since it's a license you agree to, you actually still do own the files. Even back then with game disks you still didn't "own" a game despite it being a physical copy and the DRM was worse. Steam has to do this because even they can never own games from these companies as they are only a distributor not owning them, and the companies can sell you a license because of copyright jewry.

There's nothing stopping you from buying a $120 bluray burner, 50 pack spindle of bluray for $50, bluray cases, CanonInk 1432C003 Photo Paper Plus Glossy II(has to be this paper or similar, haven't really tried other glossy papers but cheaper may be better), inkjet refillable epson printer for $200.

Create your own collection. I've compared a printed artwork of cases to actual nintendo switch cases. My cases have higher fidelity, more detail and more saturation. Use steamgridDB to find artwork and upscale it.

You can crack them with goldberg emu and have clean steam files that work offline without steam. And there are many other ways to crack steamworks DRM.

So today if you burn a copy of say half life onto a blu-ray disc

Steam has done more for PC gaming and pirates than any other company providing these clean files.

One person can buy a game and refund it, and if it has no other DRM imposed by developers it can be shared with millions.