> Did Zenefits employees really gain anything from not having to complete the required 52 hours? Was it really that big of an ordeal?

That was my first thought as well. I can see the appeal in streamlining (what at first glance seems like) an arbitrary process if the final exam is passed legitimately, but a one-time commitment of 52 hours at the start of employment (a good chunk of which you'd probably need to do anyway for the exam) barely seems worth bothering with. As you say, the risks are disproportionate - it certainly makes me wonder what other corners are being cut.