There’s another thread here that I posted covering this already, but it’s important to note that the game is DRM-free from Itch, and you’re free to back up the game. It sucks that they can delist the game even if you paid for it, but your digital library really is forever as long as you make backups yourself. That’s way better than the alternative where the store hosts it forever but you can’t back it up yourself (like Steam).
You can back it up on Steam. You can download your entire library to a backup haddrive and run Steamless, effectively the exact same process as you just described for itch.io.
I have far more confidence that unzipping a file will continue to work into the future than this project that may fall out of sync with some future update on Steam.