Without getting bogged down in the details, I think a different way to understand Riot's approach here, is to consider the history of Riot and League of Legends.
A number of years back, League was being ruined by cheaters, Riot knows that cheaters can decimate the player base of a game - you only have to look at games like PUBG to see what can happen there. Yet, Riot managed to get League to a point where cheating isn't really a serious problem anymore, or certainly not what it was - it's also the worlds biggest competitive game, and it's free - so Riot knows how to do this at scale, long term and keep doing it.
With Valorant, that knowledge and experience has been there from the ground up. You can guarantee - if/when someone does figure out a way around the anti-cheat systems, Riot will throw untold amounts of resources at that problem and leave no stone unturned until it gets solved, because they understand the ramifications of not fixing it - especially with a free-to-play title.
I understand the scepticism though - in the end we'll have to wait and see how it holds up to the 'wild' so to speak