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    Valve gets money from people who cheat. People have 10+ accounts with CS:GO so they can switch around when they get caught and banned. Every account has to buy its own CS:GO license so that’s more money for Valve. Although it’s probably very small in the grand scheme of things the existence of a cat-n-mouse game encourages multi-accounting because there’s a small window of opportunity for cheaters to benefit before they are caught. If the anti-cheat system is too good, nobody would cheat and therefore nobody would have multiple accounts for cheating purpose because they would get banned too quickly for it to be worthwhile.

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      On the other hand, Valve loses money from people who won’t buy the game (or quit and stop buying hats) because of cheaters.

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        That’s a pretty baseless conspiracy theory.