you're not getting banned from steam, you're generally getting banned from participating in anti cheat secured lobbies of a single game or a group of games.

single player experience is generally not affected.

having a 3 strike system before getting banned from multiplayer just means it's 66% cheaper for a cheater to get a new copy of the game.

this is also not new and has been the case for the current family sharing system as well.

That's how most bans already work, so what's the problem? You got to be quite egregious for Steam to ban you outright.