Steam API Init failed

I also have this bug, i've even tried re-installing the game.

Here's my log:

Spoiler

[00:00:00]: 
System Memory:
    Memory Load: 45%
    Available Physical Memory: 8897m/16255m
    Available Page File: 8570m/18687m
    Available Virtual Memory: 3961m/4095m
    Available Extended Virtual Memory: 0m
[00:00:00]: 
Process Memory:
    Peak Working Set Size: 31m
    Working Set Size: 31m
    Quota Peak Page Pool Usage: 238k
    Quota Page Pool Usage: 236k
    Quota Peak Non Paged Pool Usage:21k
    Quota Non Paged Pool Usage: 20k
    Page File Usage: 6m
    Peak Page File Usage: 6m
[00:00:00]: PersistRootStorage is now APP:Klei//DoNotStarveTogether/ 
[00:00:00]: Starting Up
[00:00:00]: Version: 450741
[00:00:00]: Current time: Fri Feb 05 22:42:27 2021

[00:00:00]: Don't Starve Together: 450741 WIN32_STEAM
[00:00:00]: Build Date: 5874
[00:00:00]: Mode: 32-bit
[00:00:00]: Parsing command line
[00:00:00]: Command Line Arguments: 
[00:00:00]: Initializing distribution platform
[00:00:00]: Initializing Minidump handler
[00:00:00]: ....Done
[00:00:03]: Error, Steam failed to initialize, result=1...
[00:00:03]: The application will now exit
[00:00:03]: Shutting down

 

ok I re-installed steam and that fixed it

Hmmm..I'd really like to avoid having to do that, since it will involve moving and re-moving or redownloading all my games...and I've got a lot of games, and some of them are pretty memory-heavy.  (looks sideways at Sims 4)  It's really stupid that it's ONLY DST that's affected by this, and I have to reinstall _all_ of Steam?  What if the next event does the same thing?

No, I'd still rather have somebody from Klei at least take a look at this problem.