Re: That isn't a Steam issue.
Steam Family and friends sharing was created exactly for that purpose. nowdays you can share any of your 50 games to up to 5 other steam accounts and they can play it all they want as long as you (the owner) are not playing THAT particular game.
Its not a well documented feature and a little awkward to use, since you first need to log in with your steam ID on your friend's computer, then authorize that computer acces to your games, then have him log back into his account.
While its not exactly freedom, it works just fine for the 1.8 children and each of their's 3.25 best friends.
Personally im worried about consumer confusion over dozens of diferent brands of steam machines, its really easy for the non-tech savy consumer to shun steam machines completely because they bought the cheapest possible steam machine they could get, and it ran games like crap.