I loathe their lootbox system but I’d say valve is better than their rivals in most places. I’d put them far above Epic, Playstation, and Xbox for their games marketplace, far above meta in the VR space and on par with the game developers I respect in basically every aspect except lootboxes.
I don’t think we should respect, like or trust any large businesses but Valve is certainly the lesser evil of many choices.
The most common cheat is probably gaining money or experience, but there have always been pretty extensive mod menus for GTA Online with tools from invincibility to making your vehicles rainbow, to randomly causing other players to explode or setting hundreds of muggers on them.
In 2015ish, I used to cheat, other than getting rich, all I was interested in doing was making an indestructible chrome bus with smoke trails that I’d drive around picking up players in, to teleport us all to North Yankton and back like a tour guide.