From Dust's DRM isn't so innocuous as it was first reported - in fact, it was changed. Originally, only a typical one-time online activation was required, like most Steam titles. However, now the DRM requires that the user activate it online to run each and every time. In other words, Ubisoft .
The DRM description on the Steam page was changed from reading “From Dust PC will release with DRM requiring a one-time only online activation. After which you will be able to play the game offline” to “From Dust requires an internet connection when you start the game. Make sure you are connected to the internet when you attempt to start the game. After you have signed in and the game is running, you no longer need the internet connection and can disconnect from it if you wish.”
Ubisoft may not seem to care whether the user is inconvenienced, but Valve is. They have offered a complete refund to any user who doesn't want the game anymore due to the DRM.
On another note, there are unconfirmed reports that From Dust was hacked off Steam, so Ubisoft once again needlessly punishes the gamer trying to stop piracy.