No, you just get permabanned from playing on VAC-enabled servers if you get caught cheating on one. So first of all, don’t cheat on mulltiplayer games. But if you do cheat, you can still play on servers that aren’t VAC-enabled, with all the other cheaters.

But it’s not really much of a issue for most people who cheat anyway, because it has no effect for games that don’t use VAC.