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"The service Steam offers is a highly predatory one that needs to be regulated."

No, it isn't. Othan than that, the issue is real though. I just don't see how it could be solved. As long as DRM exists - and I just don't see DRM disappearing, as much as I'd love that to happen, someone will need to provide access to the games you've paid for. If Steam isn't around to provide access, then who is? Publishers? They topple over even easier, and realistically having to provide download service is probably quite inefficient to be done by publishers anyway. The competitors? Why would they do that, and which ones?

Perhaps a reasonable solution would be to require DRM to be patched out in x time after release or effectively ending support for a game.

For games without DRM though, this is not a huge issue even now. I suppose it would be reasonable to require that offline installers be provided for games without DRM though.