People cheating (and especially people making and selling cheats) cause actual harm to the publisher of the game for starters, by making the game worse for all legitimate players.
World of warcraft at some point reached a required level of farming where it was assumed that you needed a bot to just participate in endgame content (lot of material to gather and side quests), or devote your entire life (16 hours) to repetitive actions.
How you manage that?
What about cheating in single player in games that do have also a multiplayer components?
How about monster hunter, many people cheated in that game because the end game farming is unsustainable, however once the equipment is cheated, it's possible to play and really enjoy the endgame content.
It would be so detrimental to ban cheating.
There are games that are made with cheating presumed (e. g. Ultima online)