I don't consider it to be a cheat. I mean, it can be tough for new Players(especially the ones who haven't played many RPG Games), to get a good amount of arrows. Some people just have a sucky aim, and they need to ''cheat'', although, I consider it to be just a little exploit.
For the Archers who aren't especialized in sneaking, getting arrows(high-quality ones, of course), is kinda fail, since you will most times get spotted by the enemy, and if you don't have a companion, such as a ''Tank'', to keep the bad guys busy, running while shooting doesn't work really well, especially when you're low on Stamina, and don't have that perk tha slows time by 25%-50%.
Now, if I'd play as an archer, i wouldn't, in any way, do this. With a bit of patience, you can overload your characters with arrows pretty easily, and in Skyrim, there's no excuse for ''low amount of ammo'', or the item's weight. In Oblivion I had some pretty bad times running from minotaurs because of this. but in Skyrim? Humph.