If you want to seriously stop cheaters, you have to be serious about it. You know the whole "reason x is why we can't have nice things?" Unfortunately, cheaters put us in a precarious position where if we want to effectively shut them down we have to actually do something that is truly effective and will deter recurrences.
The consequences of the cheater culture on gaming truly cannot be measured and is likely more far-reaching than most would ever realize. I'd really love to see some smart people get together to analyze their impact and put a dollar amount on the damages they're projected to have caused to the industry. I guarantee that even a conservative projection would be mind-blowing.
There are definitely some trade-offs to be made to secure online games permanently against cheaters with the threat of real life consequences either criminal or otherwise. I'm okay with that.