Not if Gabe has a word to say about it.
A whole generation of gamers has been brought up to think that they're buying "Steam" games when they're really buying PC games that artificially have a middleman now where one never had to be before.
Microsoft used games to prop up their windows monopoly, but provided a terrible user experience.
Steam provides an excellent, OS-agnostic user experience. Instead of using it to prop up an unrelated monopoly, they take a cut of sales.
It's not great (middlemen rarely are), but it is an improvement.
The ubisoft vision is not compatible with that.