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It was mean to end his opponent like that, using his own sword art against him. But in a sense, that was Cedric's way to thank him for a decent match.
Yes, Cedric did learn that sword art in the middle of the match. It wasn't really that hard for him, especially given how perceptive he could be. He even added a bonus and showed Faceless Blade the realm beyond the perfection of his sword art.
What Cedric valued wasn't the sword art itself; it was the deeper secrets that hid beneath it. The flow of origin energy he saw when Faceless Blade was using the sword was optimized, and that made Cedric's eyes light up with want; therefore, he learned it on the spot and was now dissecting it.
He's discarding the parts of the concept he doesn't have any use for, keeping only the useful parts.
Even though it wasn't complete yet, it already shaved off at least 5% of his total original energy consumption when using sword arts.
