I don't buy games to play multiplayer, but might try it with Renegade. I don't see the problem/complaint about single player cheats - multiplayer too, but that would be hard to enforce I guess. Look at SimCity - cheat codes freely available from the publisher, and either you use them or you don't - what's the big deal?!

It does put a different spin on the game, and knowing you're invulnerable gives you time to play differently. This isn't real life anyway, so why not.