No, you need to install them as well.
I know I have at least one game “grid: race driver” that was delisted from steam, I can no longer download it, it doesn’t even show up in my library. I’ve been trying like hell to find a way to play it, but even pirated versions are being difficult.
brsrklf@jlai.lu 1 month ago
You’re right, this is what they’ve been announcing. The games you’ve bought will still be available for download.