Your entire post is rendered moot by:
However, I'll take the time to respond in detail anyway.
This part is for WoW players:
Feign Death, for anyone who understands WoW but hasn't played a hunter, instantly clears 100% of your threat. Misdirection transfers[1] all threat you cause for the next several seconds to another party member (typically you'd use it on the tank). For these two major reasons, and a couple of minor ones, hunters don't have to concern themselves with pulling aggro by doing too much DPS (unless of course your tank is really bad, but then you have many other, larger problems).
[1] This is how it worked at the time I wrote about; it's a bit different now.
This part is for everyone:
Yes, you don't want to things that cause you to fail, such as (in this case) drawing aggro (i.e. causing the monster to hit you instead of the designated tank). If your relentless mashing of the Steady Shot button is causing you to do too much damage, then the answer is to stop mashing that button for a bit — not switch to some more complex and inferior rotation. Then, after some appropriate pause, you start Steady Shotting again.
After all, I didn't say that the correct rotation was necessarily "hit Steady Shot constantly; never take your finger off that button even for a second". My point was that using abilities other than Steady Shot was always inferior to using Steady Shot. Always. Steady Shot was provably the optimal ability to use, in 100% of cases where you wanted to be doing damage to the enemy.
It also goes almost without saying that the aforementioned less-competent hunters that I sometimes played with didn't have anywhere near enough damage output to have the slightest aggro issues. No, there is no construal of the situation under which their behavior was sensible in terms of effective play. They might have found their play style "more fun", while understanding that it was less than optimal — but as I mentioned previously, I've never heard anyone actually claim this as the reason for their behavior.
For these two major reasons, and a couple of minor ones, hunters don't have to concern themselves with pulling aggro by doing too much DPS...
In that case, Feign Death and Misdirection essentially become a part of your rotation, so you're no longer just spamming Steady Shot. You say:
If your relentless mashing of the Steady Shot button is causing you to do too much damage, then the answer is to stop mashing that button for a bit
But in this case, there might be some other rotation that outputs more damage than "Steady Shot, Steady Shot, nothing&q...
There are things that are worthless-- that provide no value. There are also things that are worse than worthless-- things that provide negative value. I have found that people sometimes confuse the latter for the former, which can carry potentially dire consequences.
One simple example of this is in fencing. I once fenced with an opponent who put a bit of an unnecessary twirl on his blade when recovering from each parry. After our bout, one of the spectators pointed out that there wasn't any point to the twirls and that my opponent would improve by simply not doing them anymore. My opponent claimed that, even if the twirls were unnecessary, at worst they were merely an aesthetic preference that was useless but not actually harmful.
However, the observer explained that any unnecessary movement is harmful in fencing, because it spends time and energy that could be put to better use-- even if that use is just recovering a split second faster! [1]
During our bout, I indeed scored at least one touch because my opponent's twirling recovery was slower than a less flashy standard movement. That touch could well be the difference between victory and defeat; in a real sword fight, it could be the difference between life and death.
This isn't, of course, to say that everything unnecessary is damaging. There are many things that we can simply be indifferent towards. If I am about to go and fence a bout, the color of the shirt that I wear under my jacket is of no concern to me-- but if I had spent significant time before the bout debating over what shirt to wear instead of training, it would become a damaging detail rather than a meaningless one.
In other words, the real damage is dealt when something is not only unnecessary, but consumes resources that could instead be used for productive tasks. We see this relatively easily when it comes to matters of money, but when it comes to wastes of time and effort, many fail to make the inductive leap.
[1] Miyamoto Musashi agrees: