https://bugs.winehq.org/show_bug.cgi?id=38960
--- Comment #59 from sworddragon2@aol.com --- (In reply to rob.desbois+winehq from comment #58)
I've been having issues like this, or no fonts appearing, for ages; no luck with either Win7 or WinXP mode, 32- or 64-bit prefix. With wine 2.0.0 on Ubuntu 16.04.1 the above yielded a login dialog with no text.
Once I added the -no-dwrite argument when running Steam.exe it all magically works again! Thanks for the info.
That sounds like a regression after bug #31374. But I don't remember to have seen this issue with Wine 2.0 and Wine 2.1 (both in Windows 7 mode).