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There are lots of different types of time travel:
- Making up for lost time: say you didn't play yesterday. Instead of booting your game up today and losing a day, you change the clock so it's still yesterday. The game has no idea you did that, because last time you played was the day before yesterday. I'd say this is pretty benign; I haven't seen anyone ever speak badly of people who've done this, especially since it makes absolutely no difference for anyone other than you.
- In-day time travel: It's 20:30 (8:30 PM) and you finally go to Able Sisters. They're selling a crown. You TT backwards to around 10AM, because you want to open up your island for people who want to buy a crown. The game knows you did that, spoils your turnips, and resets your turnip pattern, but that's the only consequence. Does it make a difference? Well, if you'd gone to Able Sisters first thing in the morning, the result would have been the same for all parties involved, so it really doesn't affect anyone.
- Eviction travel: your friend has a villager you want in boxes. Alternatively, you want to trade a villager for another villager. You have no open plots. Time to evict someone! You'll invariably have to time travel backwards for that, so the same problems as above apply. If you plant bell trees while you're eviction-travelling, you're kinda cheating by getting money you wouldn't get without TT'ing. But if the only thing you do is evict a villager and then go back to your time, once again, it doesn't affect anyone other than you. You'll get a roach and weeds if you do the 31-day method, though. Plus your villagers will mention your absence, but it seems they don't actually mind it.
- Groundhog day: similar to makiing up for lost time, except you already played that day. A lot of times. This usually happens when you don't want to leave an event, like the fishing tourney or the cherry-blossom event. That means you're profiting from it by playing the event more than everyone else had the opportunity to, which is cheating. Plus, if you sell the things you got, you're watering down the economy, even if slightly. If you don't, that still means you didn't buy these items from someone else. Other than the consequences of in-day time travel, the game doesn't care, but it's still cheating.
- Extreme time travel: the one people get the most upset about. It's pretty simple: it's winter in your island right now. You're selling snowflakes. You're profiting from time travelling, by playing an event no other player has the opportunity to play yet, which is cheating. Also, your house is full of roaches and your island is full of weeds.
- Profit time travel: you time travel to get bells from bell trees, or to get a good Nooks price, or a good Daisy price. Then you profit. Then you use that profit to buy things from other players. You're inflating prices for everyone else.
Personally, I think as long as you're not selling the stuff you get from time travels, cheating or not is your choice to make. But if you do, you have an unfair advantage, which isn't fair. Sure, I don't have to buy snowflakes if I don't want to. But when winter comes nobody will want to buy my snowflakes.
Nope!
No, sorry!