According to the article, they are down to 88 from 89. Still, it's not cheating. They can actually fund only 85, so there are 3 people who have been promised money for this fall who won't get it. OSU may know who all of those are already, and the kids may know as well. For example, suppose some player has already told the coaches he plans to transfer after Spring ball? Now they are at 87. Suppose two other players have injuries, and are going to hang the cleats up after rehabbing with the team this Spring, now they are at 85, and everything is back in order.
Overbooking, while not cheating, is questionable as far as ethics. Sometimes it puts the coaches in a difficult spot where they have to yank a scholarship from a player and fail to honor a commitment. All schools, including Ohio, have done it at one point or another. Suppose that Ohio promises a scholarship to someone, expecting them to not qualify, but just issuing it on the hope they can get the player later from JUCO, and then, to their surprise, the player does qualify. Whilte that's great news, it can put them in an overbooked situation, and they have to find room for him somewhere else.
“We have two ears and one mouth so that we can listen twice as much as we speak.” ― Epictetus