I gave a concrete example of an exploit using Steam, and you've provided a hypothetical while arguing that your hypothetical example is much more risky (and compared it to hang gliding vs Russian roulette).

Specifically how much more of a risk is it to have kernel level anti-cheat installed than it is to install software like Steam and games on your system? Since you are claiming in-depth knowledge I would actually like to know more specifics for future reference. I don't find the hang-gliding/russian-roulette example super helpful personally.

...it’s hard to see what benefit I’m being offered by a notably cheaply made kernel level anti-cheat in a purely cooperative gameplay experience.

You don't see how it would affect your enjoyment of the game to have someone insta-killing all the enemies in a match, or generating 1000x more rewards than you would normally receive, breaking the progression permanently?