It sounds like one of their submissions is the equivalent to a certain store in Yakuza 0 and you can buy Yakuza 0 is on Steam so.
Just inconsistency and poorly defined rules.
Kinda crazy that the biggest platform of PC gaming doesn't have clear rules for stuff like this.
Except Valve
does have consistent and clear rules. What they don't have is a GATEKEEPING submission process, nor do they operate a storefront for any and all software.
Valve trusts you to submit what's in your game accurately, they don't actually have the setup to confirm this. A lot of it is automated and the trust is put on the users to call it out when wrong. One thing in a game like the Yakuza example would slide not just because it's a large publisher but because it's one thing inside a larger game with a bigger focus.
A couple of the people in the thread got close to accurately pointing out that this specific VR game would enter Valve into an entirely new
industry which has its own unique legal and regulatory situations. That's most likely why Valve boilerplate rejected it, not because of the actual content. Valve has stated endlessly that they don't want to get into the content curation business but they block certain things because it's a payment processor or regulatory hassle not to. If you look at the games pulled from Steam, especially The Death Sentence™ where games are pulled from accounts, it's almost never anything to do with the actual content.