Eating bacon, America’s true pastime, isn’t doing you any favors either. Cured meats, including bacon, are typically preserved with sodium nitrites (not sodium chloride). Over time, these nitrites break down into N-nitroso compounds, which several studies have now found to be seriously carcinogenic. It's extremely depressing, but true.
Cutting back on Cheetos and bacon would definitely decrease your sodium intake, and maybe that would have some positive outcomes for you (maybe not). But more important than the sodium reduction is the decrease in all the other crap that pulls sodium along for the ride. Based on current science, going for the “reduced-sodium” option doesn’t necessarily make it healthier if it’s still filled with chemicals, trans fats, and nutritional black holes.