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It wasn't of satisfactory quality or fit for purpose and those are the measures for a refund under the UK CRA.
I'm almost certain Steam isn't allow to ban take away my other games in retaliation for getting my money back on that entirely separate purchase when they failed to uphold my rights under the CRA. But I'd be interested to read any caselaw that you feel says otherwise.
By "make good" you mean do what you strictly want, and being quick about it during a high volume time that is a Steam Sale which only recently ended. All you had to do was make a manual ticket, but your time is far past 2 hours, and you clearly have an issue with your PC, not the game.
Except that's moreover an "Advanced hide", you still have a license and can recover it; meaning you stole from Steam when you didn't like the outcome, so they reacted accordingly.
You have no defective product; 30 minutes implies a system issue not a game issue. Therefore, you abused PayPals service to break a contract with Steam in which you waive certain rights, legally so, upon beginning a download let alone the purchase. "Defective" also implies no one can play it or everyone has the issue; the amount of people playing it with no issue, shows there's no mass-defect.
Additionally as stated; 30+ minutes when an issue replicates, indicates a system issue from unstable overclock, pulling too much power/overheating the psu, or overheating another component. You clearly didn't even attempt to resolve the issue; you kept trying to play (based upon your review), thus showing that your entire bit is in very bad faith, since you didn't try to troubleshoot and resolve the issue.
Did you try the Devs support?
Did you try asking the people in the Hardware & OS section about your replicating crashes within a specific time frame?
It appears by the review, that you only went for the review than fixing your systems issue; so again - No defect. Which moreover would apply to Physical goods, and is much harder to prove with digital goods, though the information provided shows a no-defect for the game.
https://steamcommunity.com/id/pbhj/recommended/220240/
They can lock your entire account, any and all punishments accordingly, for breaking the agreement between them and you. Please do not try to e-law here, you did wrong, you got caught, and they may punish you within their rights in the agreement, which includes locking your account making it essentially banned.
https://www.reddit.com/r/Steam/comments/777p6m/consequences_of_chargeback/
https://www.reddit.com/r/Steam/comments/1qxxtl/my_account_locked_over_chargebacks_need_help_with/
https://www.reddit.com/r/Steam/comments/7g9wx0/what_happens_if_i_chargeback_a_purchase/
etc
It happens all the time and its legal. You agreed to the steam terms and a chargeback against steam because they wouldn't give you a refund under the rules you agreed to is in violation of their laws. You didn't just get your money back, a chargeback initiates a large financial penalty which can be several hundred dollars on Steam and there are repercussions.
Your account will be permanently banned at the end of those 4 weeks and you will be unable to remove it at that point. You have until then to reverse it if you want to keep your account active.
Believe what you will and feel free to sue them if you think your breaking the law but that isn't changing anything.
Im sure back in the day valve did lock your account completely but this changed many years back. If I stand correct, now you just won't be able to add games, use your payment card, trade or add CD keys (not sure what else).