IMHO if the game developers didn't care why should the players. You can't see other players replays and there is no effective mechanism to detect nor to pevent "malicious" intent either.
In some tracks such as Italy or Germany there are small spots that players might be using unintentionally by overspeeding or not breaking on time . In real F1 races if something like this happens the drivers try to reverse gained time advantage by getting slower again, otherwise they are getting punished by race organizers. There's no way anything like that could ever happen in Monaco Online.
Aside from obvious huge spots in UK, Australia and Brazil tracks, corner cutting won't get you all that huge advantage anyways.
I'd say let's create a poll and see where consensus is on that matter. Make it a "Yes or No" one, since it's due to the "unsure/don't care" cases the question repeatedly arises in the first place