Valve really need to start stepping in if they want their games to have any credibility at all, if this happened in LoL those players would be fined or banned from taking part in any tournaments in the future (I know it's easier for them to regulate it as they run the main tournament people play for). But Valve allowing the community to take control is kinda stupid.
Solo did it in dota2 and he's playing again, I'm pretty sure he was playing like 6 months after being found out.
There's no guarantee that this would be the end of it as there isn't any real punishment. They should have their main accounts VAC'd or an actual punishment applied by Valve that sets a statement of "if you try and pull of shit like this we will fuck you son".
Dota2 and CSGO really aren't going to last as long as they could do without some serious input from Valve to try and keep the game professional.