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https://steamcommunity.com/discussions/forum/7/1696048786954903141/#c1696048426808545650
This logic would make more sense, if "OldSpend" means those are older than 14 days (not refundable). TotalSpend means everything. Needs better wording on that page.
you can simply disproof your own theory by observing it. the number should change all the time when your theory is correct and to save you time, it wont.
you simply didn't put much money into Steam then the past 3 years then, as the wording says: EXTERNAL funds used. not ANY funds used. it is literally the amount of money you punched into Steam. used wallet money generated from item selling does not count because that are no external funds.