If that ever happens, I would crack my games and continue to play them. PC is an open platform and allows me to do that. And it's perfectly ethical and even legal -- at least I believe that no EU court would rule against it.But when Steam servers go down for good, will you be able to play your games? I know I've heard that if that ever happened, they would allow you to play the games without Steam but I really have doubts on that.
I don't trust any company, including Valve.