IAmEverywhere
Chieftain
I checked the section you referenced and it only actually states that about the Steam software itself - it states that Valve owns the software, in reference to Steam.
However, the "purchasing a license" is the same of any hardcopy - if you read the TOS or the actual stuff on the label of the disc, or in the game's manual it usually states the same thing, that you only own a license, rather than the copy of the game itself.
You have to check the Section 2 Part A where it defines Steam Software as Steam itself and all of your subscriptions(or games).
No one is paying attention to the fact that I said a LEASE to the license, as you didn't buy the license you just payed to get ACCESS to the license of the software. In this upcoming ciV, Valve will actually own every copy of ciV, and you as the user are allowed to play as long as you play by the rules(SSA).