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Perhaps.
Running this grants them access to your information.
Take it or leave it.
3rd party developers are almost certain to grab data from outside sources such as Valve. They almost certainly are including spyware to various degrees and ownership has been taken away.
One no longer buys a disc and now people are only downloading a lease. You don't own squat anymore.
Valve on the other hand is definitely looking at least at people's hardware- probably more.
Their privacy attitude over the years has been less horrific than much of the industry. It's not great.
That should clear it up a notch.