Yes, steam is collecting HWID not to ban your second account, but to put you in the group of people with the same trust, in other words cheats will play against cheaters, check out file called steamclient64.dll and look there for

They collect info about your computer and use SHA-1 to hash it, creating a fingerprint that they send to a server
Since this is in userland, bypassing it is a very simple solution. Check out this thread below, as far as I recall, even Neverlose had something like this for each injection, but I'm not sure.
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