Man, this is just getting strange, what the heck. It's just games! Do you wear your Steam games listed on a shirt or something? *shrug*
It's not really about shame of other people knowing you have a bad game on your list (which is what you're implying with your scenario), it's an actual personal unease sentiment about something that's beyond your control.
I find it interesting that the fact that he bought the game in the first place doesn't bother him, what bothers him is the fact that the game is in his list and he can't do anything about it. I'd be much more bothered by the fact that I paid money for something that's not good.
On his case, money is not the factor: He's willing to spend much more money to fix an entry in a list. I couldn't care less for the fact that I have Duke Nukem Forever on my list, for instance: The game is horrible, but I'm a part of the story of that game. I just wish I didn't pay full 49,99 us dollars for it.
Either way, HolyBaikal should just contact support, explain the situation and ask them to have the game removed from his account.
And then he should seek professional help.