Exactly! And not only that, but you can share your library with "family" - you can configure in steam to share games with another player, as long as you are not playing he will be able to test the games. This is extremely useful, because if you are having second thoughts in buying a game or not, and a friend of yours have that game, you can ask him (if you are in trust with him) to share it with you so you can test it while he's offline.
Yeah, Epic is trying to promote their platform (they're doing this for years) by offering free games weekly and nice deals. Worst thing is that you cannot play with other platform players who also own that game. The easiest example is GTA V, it's available in both Steam and Epic, but Steam players play with Steam players, and Epic with Epic. You cannot do cross-platform plays.