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Project Helix, the next XBOX console, is not expected to feature a disc drive
(news.instant-gaming.com)
this post was submitted on 02 Jul 2026
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This is a solved problem.
A company going out of business and customers losing access to their IP is a very common concern for software businesses. The common way to deal with this is using an escrow service.
A copy of all the IP (e.g. source code) relevant to a license is stored at the escrow service (and regularly updated if necessary). If the supplier goes bankrupt, the escrow service is authorized to release the IP placed under escrow to the customers.
You could do something similar for Steam. Pay a 3rd party to keep a copy of all content that is authorized to release it if the original company goes out of business.