I didn't say no to Steam's new TOS, because it would effectively mean losing several hundred dollars worth of games. But I'll admit that I'm not happy with the new TOS, I'm disappointed in Valve for effecting it, and that agreeing to it makes me feel like a bit of a hypocrite.
The AT&T decision (on which basis Sony, EA, and now Valve have effected the "no class action suits" policies) ranks among the worst decisions made by this Supreme Court, which has made some doozies.
Valve argues that class action suits usually end up making a lot of money for the lawyers who bring them and very little for the claimants, and in that regard, they may have a point. But it's also true that sometimes such suits aren't entirely about bringing back a big award to those who pursue them; rather, they're the only effective way that individuals who can't bankroll legal teams on their own can bring to light when the behavior of large companies (who can and do keep lawyers on staff at all times) is deplorable, and needs to be addressed and if possible changed.
I'm more than a little unnerved that so many of the companies that have enacted these policies have done so after they've experienced major security breeches for which they might be found liable...
I will say, for what it's worth, that Valve's agreement to pay for legal costs related to arbitration still makes their policy a little better than some of the ones the likes of EA and Sony have tried to push. But I'm definitely unhappy with them.