Depends how you use enchantments, if at all. The cycle grind of Enchant and Alchemy to get maximum boost to both Enchant and Alchemt... is not a cheat, and it takes a long grind to get there.
I've maxed out... but don't use them for weaponry, bad for screenshot anyway, the enemy sparkles in the shots when hit by enchanted weapons. I found that out when taking 3rd person battle screenshots against a bunch of Marauders in Oblivion... I had to do it again without enchantments or spells. A fantastic battle exercise!
Max enchant is great for enchanting a 10 gold pair of shoes into a max sneak/pickpocket shoes, becoming 3500 gold value.
It's not a cheat or exploit in my view, but you could, if so inclined overpower yourself and abuse that capability if so inclined... I don't... and it really took me a long long grind to get there... the Alchemy for instance took forever as I didn't cheat with that either, but it was such great fun discovering mixtures that worked... the enchanting took some time as well. So I deserve what I worked for, and I don't abuse it so it's not a cheat or exploit of something that was a mistake.
....... but you can cheat if you like, seems many do, such as by overpowering themselves which is kind of cheating anyway.