Valve anti cheat software may not be enough anymore. Valve is currently allowing Devs to ban players that are malicious or disruptive players you know like cheating in multiplayer games and the like which it looks like this is more directed at. Valve released a statement.
“Game developers inform Valve when a disruptive player has been detected in their game, and Valve applies the game ban to the account. The game developer is solely responsible for the decision to apply a game ban,” Valve said. “Valve only enforces the game ban as instructed by the game developer.”
So it’s more like Valve is going to keep track of what the developers report and act accordingly. This system is ripe for abuse by overzealous devs but with Valve there as the moderator and final judgement.

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