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.
Going by the price being listed in what appears to be USD, I'm going to assume this is a US player, but is there any confirmation on where this person is from? My theory was that Valve wouldn't issue refunds unless you were from a soon-to-be-unsupported region, so that could change my thoughts on things.
EDIT: Also just noticed this was a refund back to the Steam wallet, and not to the original payment method. I've not refunded a game on Steam in many years, but is this their standard practice these days?