At the end of the day, I see cheats as essentially just mods for games. A cheat enables you to do something with the software that you couldn't before. If everyone has equal access to the mods and agrees at the outset, then who cares? But if you're the only one in the lobby cheating then you're probably a jerk who puts their enjoyment ahead of others'.

If you're playing by yourself, hack away. Enjoy yourself. You should be allowed to have the maximum amount of fun with your toy.

If you're playing with other people, especially against other people, it's super unsporting. Everyone should have a level playing field.

Gamers with disabilities opens up sort of a morally gray area. Like, if you only have one hand you'll have a hard time aiming and shooting at the same time. I could see why someone would be tempted to use an aimbot.

As far as why cheating seems so prevalent, I place the blame largely with the F2P model. Now, I'm not saying that people aren't cheating in other games. But if the consequences of getting banned for cheating is that you just have to make a new free account, then you could argue that there aren't really significant consequences to getting caught. There's money to be made by cheat vendors on massively popular games, so the free ones make sense to target because the costs are low.

Worth mentioning: just because you think someone is cheating doesn't necessarily mean they are. I've never cheated in a competitive game but I've been called a hacker by poor losers. If you're looking for a cheater, you'll likely confirm your biases and find one - whether or not someone was actually cheating.