Steam has Greenlight now, so you don't have to be "vetted" by Valve anymore.
There are many other services already though that provide similar functionality, such as indie game stand, desura, etc. that have none of the restrictions you've mentioned as being a reason to not use Steam.
There are many other services already though that provide similar functionality, such as indie game stand, desura, etc. that have none of the restrictions you've mentioned as being a reason to not use Steam.
So again, what makes this service compelling?