0.1: You can't use credit card chargeback protection since you will get your account banned.

This or similar actions are very common. Getting chargebacks can be very bad for a businesse even if they haven't done anything wrong. It's also a common type of fraud and the easiest way of reducing that is presumably to never dispute chargebacks and just ban the account and/or credit card.

0.5: If you're blocked by VAC anti-cheat, you're locked out of all your games that use VAC.

That's kinda the point of VAC and you are only locked out of online play. The good and bad thing about VAC is that it's conservative in handing out bans, so false positives are relatively rare. It does of course reduce it effectiveness against cheating.

5: Porn games can be seen easily my minors/people who find it offensive.

Adult content is a setting which I believe is disabled by default.

Unrelated but I really like their new version of "steam family".