Valve's 2 hour refund option came in direct response to a 2014 lawsuit from the Australian Competition and Consumer Commission[1].
Rod Sims, head of ACCC at the time, asserted that Valve's original no-refund stance broke Australian law.
> Under Australian Consumer Law, everybody who buys a product or a service has a right to a refund if the product doesn’t work. They have a right to a refund, or a repair. Those rights are enshrined in Australian Law, and our allegation is that Valve sought to remove those consumer rights which is a breach of Australian Consumer Law
Rod Sims, head of ACCC at the time, asserted that Valve's original no-refund stance broke Australian law.
> Under Australian Consumer Law, everybody who buys a product or a service has a right to a refund if the product doesn’t work. They have a right to a refund, or a repair. Those rights are enshrined in Australian Law, and our allegation is that Valve sought to remove those consumer rights which is a breach of Australian Consumer Law
[1] https://gizmodo.com.au/2014/08/accc-commissioner-heres-why-w...