I have been grinding S8 for a good amount of time now (200 Athena/160 Reaper). I've been mostly playing Galleon and duo/solo sloop, and the amount of cheating I encounter, especially on sloop, is outrageous. I encounter cannon overlay, by far the most common cheat I see on sloop, at least 2 matches out of 10 where the guy will basicly shoot you accurately at any range but litteraly only under the cannons (easy to spot since you'll have only one hole the whole match), still doable as long as you dodge the oneballs but definitely a pain to fight against. Lots of aimbots as well, encountered at least 8 that I'm sure of where the guy will lose broadside/mast and will basically start spamming sniper/pistol shots from absurd range. And that's not even counting the amount of people that I suspect have ESP's in this game, this one being a little bit more of a gray area since gamesense is also a thing.
For reference, I have over 5k hours, most of them spent in PvP both casual and competitive and the only time I saw that much cheating was during the last month of Arena, even then it wasn't as rampant. My two last sloop matches to get to 100 Athena were two blatant cheater duos back to back, one of them speedhacking non stop onto our ladder.
I know alot of people on this forum don't realise how bad the situation is regarding cheaters right now, but I can tell you that all the people that me and my friends reported were handed out bans so it's unlikely we're imagining things, and that's only the blatant ones as most people who cheat do it in a way that offers plausible deniability.
I seriously hope Rare adresses this issue at some point. We cannot have a healthy ELO-based competitive mode if cheaters are left unchecked with them only being able to get caught if they snap and use aimbot/speedhack.
