Technically speaking you purchased a license to download/play those games, as long as the license is still valid (determined by the issuer). Every digital marketplace/publisher has this ability, and has happened with several games on Steam and Epic, all without refunds. Sadly this is the world we live in.
Hopefully the stop-gap of them delisting 18+ games while they are being blackmailed by VISA/Mastercard will have a better outcome. But as Steam has routinely removed/banned games VISA has deemed against THEIR policies, I wouldn't hold my breath with Itch. Steam has much more deeper pockets, and they succumbed to the pressure.