I don't think this enables cheating, at least not online. Checksum will kick you I hope.
Yes, it's at least a grey zone. It gives access to IP which the company owns. Taking and misusing this for business must be avoided.
But actually Assetto Corsa is an amzing platform to experiment with modifcations as it has stunning physics (well, my view), in my case only for my own education (and fun). How would a Cayman GT4 drive with a PDK? With a shorter final gear drive? With the GT3 RS engine and PDK? With the tires of the clubsport? With regular street tires? E.g.:
https://www.youtube.com/watch?v=6zvvDnuEIIQ
So this tool might help someone to get started. I take a complete manual approach with copies for the cars to not have to touch any original car.