The cheat command would only be accessible by the owner of the lobby and can do many things like:
Set Quota
Set Company Credits (For all obvs)
Always Scan Loot
Always Scan Monsters
Spawn Monster
Spawn Item
Give Item
Ship Upgrade (can get any ship upgrade)
Remove Dangers
Hack All D Open/Close (make all doors open/close)
Hack All T On/Off (make all turrets become on/off)
Hack All LM On/Off (make all landmines become on/off)
Yippie (Spawns Yippie bug in every room)
Troll player name Crit/Leaving (Troll players by displaying that they have sustained a critical injury/That the ship is leaving via autopilot)
TOD (time of day)