Yeah, it's very similar to how XBox Live accounts and digital games work (though, interestingly, it is dramatically inferior to the model Microsoft had proposed for XBox One before everyone got angry and forced them to backpedal - that model had dramatically superior sharing features)
How so? The plan for xbox one was to have up to 10 family members be able to play the same game on any console. Steams plan now enables up to 10 family members to play a game on any computer. In both cases, not on the same time. I don't see the difference.
Edit: Ah, it seems steam only shares the whole library, not single games. A pity, and that might very well be a difference.
"Steams plan now enables up to 10 family members to play a game on any computer."
I've been thinking a better system would be number of shares = number of owned games. Or number of shares per game = retail cost of game divided by total retail value of all games on the entire account. Then I could share out "FTL" dozens of times, but some goofball who opened a fake account containing only one copy of "XYZ" could only share it out precisely once.
This follows the obvious customer service goal of making your best paying customers the happiest.