I don’t like censorship/media bans but it’s clear that neither left-wing or right-wing content are being targeted by this.
Steam took down hundreds of games, a small fraction of its catalogue, in line with the Collective Shout letter (ie. games involving rape and incest). It’s a slippery slope toward banning more content but one with no clear political alignment, as the left and right have each pushed for overlapping bans depending on the details.
Meanwhile, Itch io nuked its users’ content far beyond the scope of the open letter’s request because for some reason they’re incapable of managing their user content. (Itch has explicitly said it’s implementing a new policy that puts a bigger burden on the uploader — cynically, Itch knows that no crisis should go to waste and that Collective Shout and payment processors will absorb most of the backlash from this.)
Collective Shout seems to be both extremist (if you agree censorship is extremist) and bipartisan, with individual members having right wing, left wing, and centrist ties based on the member profiles listed on the site.
Also, although payment processors have cut off other platforms before, it’s not yet clear that payment processors are directly involved in this case beyond having existing policies around these things.
Steam said it was “notified [some games] may violate the rules and standards set forth by payment processors” but didn’t say the payment processor was the one that notified the site.
Itch said it “came under scrutiny from [its] payment processors,” but this may just be referring to what the Collective Shout campaign said publicly. All of this may be preventative legal maneuvering with little real risk to the sites themselves. Or not — it may never come out either way.
As for whether there’s anything to prevent this sort of thing, probably not. Any alternative payment processor needs to account for the same legal and regulatory risks and will likely add a similar policy (public pressure or not).
I guess Steam could use its significant revenue to open brick and mortar stores to let people put cash into their Steam accounts.
(Edit: and everyone outside of a major urban center would need to use gift cards while Steam maintains a relationship with some friendly bank for non-retail transactions … not really realistic).