Mystery Steam Resident Evil 5 problem stops game being played

[Administrator]

UPDATE 4PM: Reports are surfacing that the problem has been fixed. The original Reddit thread has been updated to say that person can now play the game, so the issue for them appears to have been resolved. I've separately downloaded, installed and played the game on Steam in the last hour and encountered no problems.
ORIGINAL STORY 3PM: There is currently a problem with Resident Evil 5 on Steam that prevents people from playing the game. The problem seems to be Steam or Capcom failing to issue game keys. Have they run out?
The error message being reported, according to Reddit, is "#SteamUI_JoinDialog_KeyRequestFailed_Text".
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