Not sure what you mean. This is not a new rating system. This is the same old rating system, just recalculated after penalizing the cheaters. So you don’t have cheaters at the top of the ranklist anymore, leaching away rating points from non-cheaters.
The new rating system (Elo-MMR ratings go live on CodeChef!) is not live yet. It’ll be live only after tomorrow’s contest, and that does not retroactively change the ratings like has been done here.