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Yes to the first one, for the most part, at least and maybe for the second one. Only GabeN knows and everything around are but rumours.
If a game is removed from Steam and you already bought it, it stays in your library and available to you. I own several games that have been removed from Steam myself. An exception are certain games with an online requirement that shut down. "The Crew" from Ubisoft is a recent example that you can't play anymore thank to Ubisoft shutting down the servers.
If Steam shuts down, that's another matter, and honestly one I don't think anyone should worry about. Steam has been going strong for over 20 years now, and shows no signs of slowing down at all in spite of what the over-anxious fear-mongers say.
Years ago, Valve said in the unlikely and hypothetical event of Steam shutting down, they would probably allow you to download your games for a time before implementing a permanent offline mode patch for Steam. Personally I think Steam is so well established now that the idea of them shutting down isn't even a consideration anyone should worry about in the slightest.
If Steam closes? Well that's an apocalyptic scenario. It was stated by Valve Staff that measures would be put so you could still keep your games. Most plausible scenario would likely mean Steam giving users a window to download and backup their games and disabling of Steam's DRM on those backups. But we can only elucubrate.
As someone who lived over a game service closing down (Desura) I still have the games I owned there and backed up to my drive...
But... MUH APES!!
Cue debate on whether the license treats all instances of the Mona Lisa the same whether is be a JPEG picture or the one hanging in a museum.
"The Crew" remains in the Steam libraries of those who bought it, but it is unplayable.
Ubisoft did remove the game from owners on Ubisoft Connect however. It's now in a different section labeled "inactive games" and isn't downloadable at all.
Which is fine for an online game.
Just a few days ago, isthereanydeal told me a game was removed from my collection. Which Steam didn't tell me, and it wasn't -- but I guess whatever API they are using saw it as removed.
Still, they delisted it, renamed it on the store page -- and also tried to trash the depots. I don't know whether forum posts brought them to their senses, or the various people opening support incidents, but they did fix the depots again.
Store page is still trashed (other games just leave the store page with its images and descriptions intact, and only have Steam display the banner about the game being delisted), but that's not such a big deal. Still, it would make the good look better in the library too. Game is still renamed too.
There have also been reports of some keys having been revoked, but that particular thing didn't hit me. And, apparently, support did reinstate those licenses. Apparently, they just revoked some lists of keys, not all of them, for whatever reason.
There are still things that did happen in the past, though, like publishers re-using an app-id for a new game. Steam is still way too lenient when it comes to publishers being a-holes.
The only place I know of where you're closer to owning your games is GOG. Even then, you're still only licensing them, there just isn't any way to enforce a hypothetical scenario in which your games there are taken from you. There's also a lot that's unavailable on GOG due to their DRM free stance, which some publishers are wary of.
Other than that, there's physical copies, but good luck buying physical on PC. That hasn't really been a thing for a very long time now.
idk about gog and all that. but some games do have their own website or uses something else like git hub which normally skips over most of the bs like DRMs. but it's pretty rare for devs these days to go down this path instead of using steam.
and just like with physical copies, it hasnt been a thing for a long time :(
but some good games are still out there like the powder toy.