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I suppose Valve, who trained a neural network to detect/ban cheaters exhibiting unnatural behavior.

It hasn't paid off very much, CS2 still has a rampant cheating problem. VAC has been a joke for years at this point.

It only needs to be good enough that people keep buying (or not) the Prime when their old account gets banned. There is good reason that it exist, also from cheating perspective.

Because CS2 does not have Overwatch, the AI VAC thing. As far as I know is only enabled on Dota.

VAC is a joke until they ban players and all start to cry on reddit/discord.

Any company that makes big money on long-living multiplayer games?

It would not only take a lot of developer resources, but also computing power.