All they are doing is crowdsourcing the approval process. If companies aren't interested or don't submit games, they won't come to Steam. Square-Enix has enough push and Final Fantasy is a big enough property that they would absolutely get VALVE's approval even without this new program, it's entirely up to Square-Enix.
This is mostly going to be useful for indie games, the sort that nobody's heard of and can't afford a marketing push. This way, if they wanna sell on Steam, instead of flat-out saying no, VALVE can bring it to the community and see if they want it. This is essentially a way for them to more accurately gauge consumer interest and sales potential, so they can invest in properties that will see a higher return. It's all about the moneys and finances.