The main issue about cheating is that it has an intention to deceive. Deception came from the enemy, Satan, when he tempted Adam and Eve to eat of the fruit of the knowledge of good and evil. The consequences to that one particular sin were catastrophic. So yes, cheating may be the watered-down version, but deep inside it is still deception.
Cheating can be in an examination, a submitted resume, a financial transaction, a sports activity, or a marriage. But whatever the case may be, the offended party would surely nurse a broken heart or trust once it has discovered the deed.
For people to build lasting relationships with one another, there should be no place for cheating or deception. While the goal of love and forgiveness is to restore and to build, the end result of cheating and deception is division and destruction.