I'm actually really surprised that Valve is loosening up on this one. They usually play hardball when it comes to refunding a game past the 2 hour mark.
They make exceptions when a game has major issues or implements some significant change that dramatically alters the availability of the product. No Man's Sky, Starfield, and Cyberpunk 2077 all could be refunded outside the 2 hour window - at least for some people. And of course everyone who bought The Day Before was refunded entirely.
I expect they'll be allowing refunds for anyone in a country where PSN does not operate at a minimum. It's really hard to argue that the game is still playable when the required service is not available in your home country.