This is just my opinion, but if you are playing to learn then you should have no particular problem playing against a cheat; it would be similar to playing against a strong player.
Alternatively, if you're playing for rating, you might have an issue.
Because of the mass of cheating on live chess, I've opted to only play 1 min. games for the last 7 months or so.
The result.
A rating that fluctuates in 150 point swings depending on the day.
I huge loss of tactical ability that I once was very proud of.
Impatience.
Overall have taken leaps backwards in my playing ability.
This weekend I was on the verge of just quitting this game, because of the huge time waste, and my feeling that I really have nothing to add to the game. After so much time invested to see where I am currently at, I'm really depressed about it.
Although the internet is great for learning. Playing online is a wasteland full of cheaters. Back to coffee shops and chess clubs for me. Chess.com's inability to control the live chess cheaters (don't even get me started on turn-based) has almost led me to quitting this game I love.