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Chazore said:

Also it says in the very tiny fine print, that the game still requires both a Battlenet account and the client itself, so really, having it on team just makes the game a glorified Battlenet launcher with an extra step (And I doubt Blizz is working with Valve to allow for all of Steam's features to work fully with Blizz's games, this just comes off like a Ubi dump catalog). 

While a Battlenet account is required, Mike Yabara has stated that it will run directly from Steam. It remains to be seen how truthful that statement is.