I‘ve actually when something like this will happen. A few years ago German energy providers and distributors needed to split, because it gives you an unfair advantage if you own both. Whole companies were split in two. People working for years together would no longer work together. In the end consumer were much better off after the split. I feel the same way with internet browser. It is unfair if you own the infrastructure (Chrome, energy grid) and the services that run on it (YouTube, power plants).
I believe this is something to be aware of and if this is something you don’t want use GOG instead. But in reality as long as Steam exists you will be able to download and play your games. If Steam ceases to exists then you will not be able to download them, but there will be ways to still play them, if you previously downloaded them. It is not like “owning” movies on Amazon (or just recently on the Playstation Store), where you always need to stream the movies.