Susan, I wouldn't say cheapens, but my sense is there's more glare than glass that, depending on where the print is hung, could detract from the beauty of the image. One of two framed prints I ordered is hung opposite some windows and there's a lot of glare (the previous photo in that location had non-glare glass, so that was a big change). The second one is more protected from windows and the glare is not as noticeable.
Correction: I should have said acrylic, not acetate.