I’m under the impression that reporting a player doesn’t do anything.

Yes, you'll get a mail sent to your inbox saying the player was suspended for x reasons, but I've added people that I reported, got the mail, and it states they've been restricted from playing the game, but there they are in the middle of a game (after which I got the mail saying they were restricted).

I've seen this countless times, I honestly and full heartedly don't believe that people actually get punished, they just tell you they do to make you feel better.