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PayPal is free to include or exclude whomever they want.
Valve is adding & removing payment options in countries for Years, based on different things.
That a Payment service removes itself from a service usually only happens when they stop doing business in a country at all......or shut down for whatever reason.
Steam probably accounts for less than 1% of their total transactions. Besides, it's only affecting regions which do not use GBP, EUR, JPY, CAD, AUD, or USD.
Stop listening to clickbait articles.
Works for many, and all we know so far is its something to do with banking regarding Paypal recently acquiring banks. Might be some regulations or things they need to do on their end for other currencies, but they aren't banning anyone.
Japan
EU countries that only use Euros
USA
Canada
Australia
UK
It happened because of the banks that Paypal uses for the other international currencies have decided to no longer allow Steam payments to go through them.
This is only affecting Steam and not other stores, and its unclear why these banks decided to no longer do internatational transactions with Steam.
https://gtm.steamproxy.vip/sharedfiles/filedetails/?id=3547683973
Unfortunately, Steam's strict "no communication" policy fosters an environment where "influencers" can roam freely.
Except the youtube video is literally based on Valve communicating that paypal was removed in specific areas. The youtuber just made up the connection to Mastercard/Visa with no evidence to support it for clicks.
So to claim they don't communicate when the video is literally the result of a communication from Valve is ironic.