Developers hate Cheaters simply because cheaters ruin the experience for everyone in the game. It also makes the game unbalanced because the cheater’s character might be overpowered which in turn makes it very unfair for other players who play normally. This is why we’ve seen developers take very aggressive measures, such as lawsuits, against cheaters.
In fact if you don’t see anymore cheaters in League of Legends, or a drastic reduction in the future, you can thank Riot because it seems that their lawsuit against LeagueSharp was successful, and it also seems that they have managed to win $10 million in damages as a result of that victory.
For those unfamiliar, LeagueSharp basically provided League of Legend players with a botting service that automated their gameplay. They also charged gamers a subscription fee to keep their bots running, meaning that players won’t actually have to play the game to rack up points, climb ranks, earn money, and so on.