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It's not ideal. It also feels better to a lot of people to buy a specific thing and not a gift card. It would feel good to friends/family to open a page with my wishlist, and buy a specific game from it that will be digitally "delivered" to my game library on a given date.
Making a steam account is no different than making an amazon account.
Tons of online stores let you checkout as a "guest" ... In fact, I think most of them do.
I am actually surprised Valve hasn't created a web gifting system already...
Normally the arguments against payment-related stuff relate to abuse cases, but I don't really see one here. You can't add stuff to your inventory to trade (because as a guest you don't have one), so it's clearly limited to straight gifting. Which, even under Valve's recent trading restrictions, is untouched. So I don't see how this could cause any new problems.
As ever, I wouldn't hold my breath waiting for it to happen, but at least off the top of my head, it seems a reasonable suggestion.
1. Limited users can have non-limited users add them.
2. This thread was from before the gifting changes last year.
3. For the last part, no.