Bug#730629: steam: ~/.steam/steam.sh not: found

[Jonny]

I can confirm this and after a little bit of investigation is found out, 
why this happens.
The culprit appears to be the "install script" under /usr/games/steam.
Here's why:

#!/bin/sh
# Copyright (C) 2013 Michael Gilbert <mgilbert at debian.org>
# License: MIT
set -e

real=/usr/games/steam.real
config=$HOME/.steam
ubuntu32=$config/ubuntu12_32
exe=$ubuntu32/steam

# launch steam / do an initial update when the exe does not already exist
test ! -d $config && rm -rf $config && mkdir -p $config || true
test ! -e $config/steam.sh && rm -rf $config/package $exe || true
test ! -d $ubuntu32 && rm -rf $ubuntu32 && mkdir -p $ubuntu32 || true
test ! -x $exe && rm -rf $exe && cp $real $exe && $ubuntu32/steam || true
$config/steam.sh $@

take a look at line 13 and go figure!
Right! If $HOME/.steam/steam.sh is missing, so is the routine to create 
or copy it there from somewhere.
I have tried to find the file inside the package but no success until now.