Netflix also has a big and arguably loyal user base, same goes for Xbox, PlayStation and other heavily DRMed platforms. Does it indicate that DRM approach is ethical or that simply many people are oblivious to its potential problems? As often, many ignore it until they are bitten. If that happens, people learn about DRM the hard way.
About Steam going DRM free - I'd like that, and I'd subscribe to their service if they'd do it. But they are heavily involved with DRM addicted gaming companies, and unlike GOG don't put any effort into convincing them to publish their games DRM free. GOG invests a lot of time and effort to do it. For Steam it would either mean an enormous amount of reworking their contracts, or simply cutting off a significant part of their catalog. They aren't as principled as GOG to do that.
The really interesting thought experiment I see is this: What if Steam quietly went DRM-free tomorrow? What would change? What wouldn't?