I'm totally fine with this (with the exception of maybe the WebAPI access being restricted). If you haven't put at least $5 usd into Steam (and by the sounds of it, some of you have been using Steam for 6-7-8+ years without putting money in, why should they care about you? You aren't a customer they necessarily want, at least not more than them wanting to get rid of bots.
Yes, some of you have games bought retail that work on Steam, but Steam doesn't make money from those steam keys.
I do wonder if they'll eventually loosen the restrictions to allow retail keys to count towards this though, and would be okay with that too. Fortunately I have well over 4k in the steam ecosystem so I'm in the clear.