We think the reason why many substandard translations were uploaded is that the software was more complicated and some concepts weren’t familiar to to people working with Trados for the first time. In translation tech 1, the software and concepts were easier, people weren’t as busy with assessments/other coursework and so they probably would have liked a harder text to work with there.
Also, we think maybe it needed clarifying that this would be treated like a “real” translation, and not as other, smaller homework tasks where the quality of the translation didn’t matter as much.
As for consequences, we imagine a real client either wouldn’t pay you at all, or would severely lower what you’d be getting. Your reputation would also be damaged considerably and you probably would not be getting many assignments after that.