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Refunds are also not intended to demo games. For that, events like Steam Next Fest and demo/prologue versions made by the developers of the specific game exist.
It still takes time because there is a line of others who also requested refunds and the automated system has to check to make sure that the users requesting the refund meets the requirements for one.
And if you are sending the refund back to your payment method, then the time waiting is your bank/payment processor that is causing the hold up.
The process is already automated if a purchase hits the refund requirements of: WITHIN 2 weeks iof purchase AND with LESS than 2 hours playtime.
BUT:
During sale periods the amount of time a refund takes to procees extends due to there being numerous others refunding games.
Although I still think it should be faster.