None of that helps low-level play or games without meaningful progression. Continuing to use Rust as an example, because I'm most familiar with it among games with controversial anticheat: people get banned all the time. All the time. And they keep coming back with brand new Steam accounts, and continue to cheat until someone notices and an admin happens to be online. Rinse and repeat. Seemingly an infinite pool of cheaters, or finite cheaters with infinite money for new copies of the game. And it only takes a few minutes to ruin someone's week.

The most effective prevention method is probably strict gatekeeping: require a minimum hours played in wild west servers or a certain value of games owned in an account before a player can be whitelisted. Proof of investment, that kind of thing.