TLDR: "The easiest way to stop piracy is not by putting antipiracy technology to work. It’s by giving those people a service that’s better than what they’re receiving from the pirates," Gabe Newell said.
But it should be noted that Steam's pre-release anti-piracy has no yet been broken. So it's not like they don't do DRM... Having said that, the conclusion is pretty much in line with what many gamers and pirates have been saying: Stop screwing the customer and creating pirates of them. I'm lucky enough to live in an English-speaking country, but I'm sure that if I lived in a country that typically sees long delays be…
Well lucky you. Steam is no better in this regard than anyone else though; they do region lockouts. Valve doesn't with their games afaik, but Steam certainly does.