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Doesn't matter. Valve doesn't get any money when you add a game using a key, so there is nothing to refund. Nor can they verify the amount you spent for the key.
But if it wasn't, would you be OK with getting a refund that's only 10% to 30% of what you paid? Just Valve's cut?
That's absolutely not how things work...
Valve generates keys for the developers at no charge. Developers can sell those key or even packaged them into retail copies and Valve doesn't get anything, even when activated. Valve only gets money from sales through Steam.