Doesn't steam have a clause to the effect of "if we go out of business, you'll get X period to download your games so you can manage them yourself"?
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As long as you understand the terms of your agreement with Steam as a platform, everything is fine. Physical media for games are outdated anyway, especially with frequent updates, patches, and DLC releases. Regarding older titles that are no longer supported, well, as the saying goes: "If buying isn't owing..."
2.1 We give you and other GOG users the personal right (known legally as a 'license') to use GOG services and to download, access and/or stream (depending on the content) and use GOG content. This license is for your personal use. We can stop or suspend this license in some situations, which are explained later on.
https://support.gog.com/hc/en-us/articles/212632089-GOG-User-Agreement?product=gog
GOG has the same drawbacks as Steam without any of the useful features. They should cut down on their "owning games" lies and spend time improving their platform instead.