"In brief, the plaintiffs argue that lootbox mechanics in the Valve games above are gambling because you're spending real money by means of a manipulative, casino-style interface (think, spinny wheels) for a chance of unlocking something that has 'real' value. In this case, not just because the digital item has subjective importance to the owner, but because you can flog it for actual cash either over Steam Community Market, or on third-party marketplaces using a "trade URL"."
I mean, yeah. Lootboxes are gambling. The fact that it's taken this long and is primarily aimed at valve, rather than literally any other game publisher, has me suspicious, especially considering all the recent online ID bullshit, but it really should be more regulated. Bare minimum it should be required to follow some sort of fairness and transparency laws.