1. There is a Visa 30 day window to contest charges, as well as a window of time to request chargebacks through the playstore and iTunes store. Niantic wants to make sure they have cleared all refund windows, and milked cheaters of what they will pay to get ahead of other cheaters (constant eggs, incense purchases, inventory upgrades, etc). Likely you're looking at another 15-30 days minimum just purely looking at the micro-transaction end of things.
2. Cheaters are modifying the way Pokemon appear. If cheaters disappear all in one go, the geographical distribution of how Pokemon appear will become different. Legit players will suffer since less Pokemon will spawn (less players in that area). The whole "I'm legit grinding it out here in the city" is nice and all, but you probably have 100+ spoofers that are making those Pokemon spawn for you.
3. Niantic needs to come up with a number of updates to make the game interesting again. This means changing the way Pokemon spawn and are found, adding new features, balancing, etc. If cheaters are removed from the game, they are taking out a huge base of players that likely won't come back to the game except to try to cheat again. Bad for business. They need the game to stand up on new merits before they do a banwave.
As soon as Niantic starts rolling out some great new features, banwaves are in motion. Trading won't be implemented until banwaves occur. Bots will be bots, banwaves don't get them all, and new stuff pops up, but the 'Warden' will get activated as soon as trading is implemented. Time will tell if they mark Pokemon back to the account that caught them for 'poofing'.
If anything I said ends up being untrue, the game will continue to burn to the ground.
This post was edited by Canadian_Man on Aug 2 2016 10:15pm