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No you cant.
It says "Turn into gems" but if you try to go through with it you get an error at the last step.
Same for all the other items you can buy on the point store.
You will get this message:
http://prntscr.com/tauwbf
Correct. There is currently no way to get rid of items you bought on the Points Shop.
I know this will rub a lot of you the wrong way, but hey... i come from a time when we would make our own skins, or upload our own sprays to the community... now every little skin, spray, sticker, you name it, cost real bucks. What a dam joke, the gaming community simply rolled over and took it up the butt and said "sure, we'll pay you for all these features we use to have for free".
And this is now a way of life outside gaming. Everything has gone "leased subscription base". This means (and steam confirms), we do not own the games we paid for, we are subscribers to a service, we are simply leasing the software.. and yes.. steam can revoke it at any time. Gone are the days of actually owning anything. I pay big bucks to companies like adobe for the same crappy treatment... leasing the softwares for a monthly fee. I'm so burned out and fed up with the gouging, and its appearing all over in non-game industries now.
well then check again how the Points got awarded for purchases made.
but since you probably wont because you seem busy whining about something..
https://store.steampowered.com/points/howitworks
so you see that awarded points since January not from 17 years ago..
What sort of logic is this.
You can't argue "forced social media crap" when you're literally talking about a way to delete stuff YOU ENGAGED IN.