It's a beta, so I wouldn't be too excited about how things turn out.
I remember when leaks about Ricochet came out and how laughable it seemed with COD at its early stages.
Now it does a decent job. Rage cheaters don't last long, closet cheaters still get caught, even if later than sooner, and new machine learning methods are becoming advanced for their time.
So even if it looks like a joke now, I wouldn't dismiss it right away.
EA seems interested in trying to stop cheating, but we all know if there is a will, there is a way.

This cat and mouse game won't stop until someone gives up, and it doesn't look like anyone plans to.
Even though their in-house EAAC was leaked with detection strings, I recall the same thing happening with early Ricochet in COD.

Only time will tell how it goes. EA will either put a lot into their in-house anti-cheat or not.
It's still cheaper for them than using a third-party anti-cheat.