Consumers have a thousand tools to form a very precise idea of what they're buying.
You couldn't wait ? well, that's too bad but it's entirely on you.
People still think they need to preorder and are even outraged when the embargo for reviews is lifted, god forbid, on launch day.
Like it's their right to throw their money at a developer a pig in a poke, but at the same time they want to be able to withdraw the money if they're not happy with their purchase.
Bullshit.
Stop preordering. Stop rushing to buy your new game on day 0.
Steam should not offer refunds, unless there's fundamental issues with the game (like, it was advertised as working on your system, but it doesn't).
What they could do is offer a cheap trial (3$ for the first hour of actual play time ?) and the possibility to rent games in hours.
I didn't buy the game, never really intended to so I guess one could say I have no particular horse in this race.
But there are some serious problems with what you're saying. Your point about people not being able to wait until reviews is curious to me. Because you're implying that reviews should be a good indication of what you're buying, but all of the demos/previews/interviews beforehand should not, which is capricious.
Certainly there's a lot to be said about protecting your own wallet. Ultimately it's my decision to buy or not buy a game, and people have been scamming people for a very long time.
But that is a separate (although important) issue. The question at hand is, was the developer honest with the public? The answer is clearly no. We can talk about the proper response to that, or how one can prepare for that, but that is a different issue altogether, and this issue should not be stifled.