Sounds like security theater.
>I think we can all agree that an in-person exam would have been better, but the state of the world made that untenable.
Why not? Just rent out a large open space (stadium, convention center, school gym), and space the students 20ft apart. The risk should be negligible. Let's be honest here, the real reason is that [cost of exam surveillance software] < [cost of conducting a physically distanced exam]