I feel like this kind of thing is sort of Steam making a political stance against the publisher. If Steam didn't give refunds, then I imagine that they wouldn't get much flack for that — it'd instead be directed at the publisher. However, if this became more commonplace, then it would end up eroding Steam's reputation. It reminds me of how credit card chargebacks work: you get the refund quite quickly, and then the payment processor/bank chases it up with the merchant (especially if there are lots of chargebacks for that merchant).

That is all to say that from the players perspective, it is indeed nice of them to offer refunds. Also, I respect them drawing this line against this kind of bullshit. Corporations aren't our friends, even when they seem to be working in our favour. However, if a corporation is acting in our favor, against a worse corporation, then I'm here for that, while it exists.