Valve allowing this blatant account farming is directly feeding cheating epidemic. Cheaters rely on multiple accounts to spread reports, dodge cool-downs and reset red trust. They are even sold cheaper than prime for CS, since the farmers use them for drops before selling.
Ending these account farms would be the first step in stopping the epidemic, but Valve is fine allowing it. That should tell (you), the player, everything you need to know about their actual effort to keep matches fair.
They don't care and they're letting the cheaters win. No amount of anti-cheat can work when cheaters are given a revolving door to re-enter match-making.