In reference to the section vH is bitching about (which, I admit, also disturbs me somewhat), there's a notice in the agreement stating:
So, if you live outside the U.S., you likely won't have to go through arbitration and will be able to take advantage of local laws to resolve disputes.SECTION 12 CONTAINS A BINDING ARBITRATION AGREEMENT AND CLASS ACTION WAIVER. IT AFFECTS YOUR LEGAL RIGHTS. PLEASE READ IT. IF YOU LIVE OUTSIDE OF THE UNITED STATES, SOME OR ALL OF SECTION 12 MIGHT NOT APPLY TO YOU.
@catbarf: Aside from the fact that Steam can lock you out of all your software while a dispute is in process, which is wrong IMHO, I believe that most people feel arbitration is not an entirely fair process and tends to favor the company rather than the individual, more often than not.