What about the ratings of those who lose? They have to lose rating points 'for the good of the many'? Essentially you are stopping cheating by cheating, this doesn't seem like it would work too well.
If the people who lose don't lose rating points, than that fact can be used to expose who they are. Additionally, what will stop people from data mining games and noticing a rating different from the anti-cheater squad if you do this?
Personally, I think this medicine is worse than the disease.
I don't see how it can be overkill. Cheating is pervasive through online chess from Yahoo, pogo, ICC, gameknot...They are problems everywhere.
It would actually raise the value of being a member of chess.com to know how actively chess.com goes after cheats!