I find it odd some idiot hasn't ran in yet yelling "OLOL I HAXXXX MY GAMES 4FREEEEE3EEEEEE"
It doesn't even need to be said in this day and age.
That said, I own more than $800 worth of games on steam.
More than $2000 if I'd bought them in retail stores here. Both of those are AUD figures, of course.
I mean look at it this way - I buy games on Steam for less than $60 when they're new. New games retail at $100 here in Australia. Digital downloads aren't killing the retailers here, the retailers are - they still turn something like $65 profit off each copy of a new game they sell, but the profit margin is irrelevant if you're losing customers.