ORIGINAL: JudgeDredd
Buying a game from Steam is simply buying from an online store though. You need an account to buy and download the game...that in itself isn't really DRM. If it required you to connect each time, then I would agree. But it doesn'tas far as I'm aware.
Steam is DRM, plain and simple.
It also prevents you from selling/trading your game in a secondary market. Games that require Steam to run has an online requirement to tie it to your account. That's DRM. In that example, you're also required to install a program that runs in the background and requires the use of the internet while leaving a potential security hole open. In some cases it restricts modifications of the files.
I've seen some die-hard defenders of Steam and they seem as brainwashed as a Jonestown citizen. I don't think you're quite one of those, but when I see them start championing how their patches are automatically downloaded, I can only [8|] at how much of the Kool-Aid they've drank. The down sides are often justified because they've "never had a problem with it" though I've seen many who've changed their tune after they did and their blinders came off.