Retail key activation weird issue

How does the license show here: https://store.steampowered.com/account/licenses/?

I see on your profile that you have played God of War 0.0 hours and last played on November 23rd

This happened recently to someone I'm friends with on Steam. The game wasn't showing they owned it as it was still on their wishlist as well as showing that that out of my friends who owned it they didn't, but they did have it. It seems like it's a possible delay or bug.

Steam activation servers can be a little slow to update the user's game DB with the sale going on right now. As long as the store page shows you having it in your library and you can download and play the game you should be alright.
Also look at drbeckett's comment and check in your account details if the license was activated.

That exact situation happened to me once before and it fixed itself after a while. I think it took a few hours before it was fixed, but it was a while ago and I wasn't checking too closely so I'm not sure how long it took, but it wasn't all that long. It will fix itself soon (in fact, in the time since you posted the thread, it probably already has fixed itself). You have nothing to worry about. :)

I've similar problem with DuckTales, it's still on whishlist and not visible in all games tab despite that I already own it (activated yesterday).

Update: Looks like they fixed that now (or maybe fixed itself when I activated key for next game).

Maybe with the steam sale and it's servers screwing up again, i couldn't watch my activity feed for some hours.
Or just try restarting steam.

Thank you all... so the solution is just to activate another key.