I was one of those affected, and it was actually quite upsetting, as I've never cheated in any online game, and I pride myself on playing fairly.
I got banned when I logged onto Steam for my morning gaming session on Father's day, and my first reaction was shock and astonishment. How had this happened? Had I been hacked?
Then it turned to annoyance when I realized my 12 year old Steam account with hundreds of games on it would now be permanently flagged as a cheaters account. That hurt more than not being able to play the game.
I'm glad it's all sorted out now, but it wasn't pleasant at the time. The compensation is nice, but doesn't really make up for the bad experience.