No.
I'm complaining about people thinking it is an exam that can be 'swatted up' for and divorced from practical beekeeping.
It is not a written exam.
It is a practical test of basic competence in bee-handling.
Now, as to whether the bar ought to be set higher and thereby make this specific "bit of paper" more valuable, that is a different question.
"Bits of paper" are important in life.
Whether you want to drive your own car, fly your own plane, or get a job in a school, or as a nightclub bouncer, let alone as a bus driver, ship's officer or airline pilot - you need the right "bits of paper".
I, personally think that it is rather important that, after a year of keeping bees, one can be fairly and impersonally assessed and helped with things that may have been misunderstood (or never understood in the first place).
Just as a Private Pilot's License is not a Basic Commercial Pilot's License, so The Basic is just that, an assessment of the most basic beekeeping skills. Anyone that fails to reach the required standard really does need some training - if not for their own sake, then for the sake of minimising cruelty to their bees.
Some do manage to fail, but many more refuse to have their practical 'skills' commented upon.