It's somewhat worse than that, because anti-cheat and anti-anti-cheat are basically two things in ring-0 fighting each other. So it's a resource war, whoever spends more development time trying to win does. But the economies of scale favor the cheaters.
If only one game has working anti-cheat, it may not be worth the cheater's time to break it because it's only one game, and they can go cheat in a different game. If all the games had it then more people would try to break it and more would succeed. And once they have a working method, it can be employed against any other game that uses the same kind of anti-cheating, even if it's not the same vendor's, as long as the mechanism is similar.
But having all the vendors get together to pool resources and design one good anti-cheating software makes it even worse, because then it might be a little harder to defeat, but the prize for defeating it is being able to cheat in every game without even having to translate the cheating method to each new game.
So you get small victories or nothing. There is no winning at scale because increasing scale only increases the number of adversaries and the gains from finding an effective way to cheat.
It's basically the same problem as keeping the latest Hollywood releases off of pirate sites. They count success as occasionally having a week before a new release is on the pirate sites instead of being there the same day, and even that doesn't happen very often.
It turns out it's more effective to make it so it doesn't matter. In their case by making it so easy and cheap to watch Netflix on your TV that it's not worth most peoples' time to figure out how to use BitTorrent even if it has 100% of their content. In this case by making more games that humans are better at than computers, so you can't use a computer to cheat.