The spirit of Visa/Mastercard isn't wrong. If a platform is doing something illegal they will break ties or give them a chance to course correct. When Pornhub was exposed for hosting lots of revenge porn and illegal porn Visa/Mastercard pulled back, Pornhub cleaned house and put up new stronger barriers to prevent that kind of material being uploaded. But instead of doing business again they said "just kidding" and did not come back.

In this case with Steam and Itch.io they are targeting legal games and is just 100% in the wrong. There is a checkered history of Visa/Mastercard dropping legitimate causes because it's hot politically. Which is also in the wrong.

Bitcoin/crypto was supposed to be the way around this kind of censorship, but that's basically a ponzi scheme so that's not the way forward. Unfortunately Visa/Mastercard have a monopoly on the market and they use it regularly to keep out competition. Regulation/investigations need to be done to fix this, but that sure as hell isn't happening under this presidency.