If people sign up for a course like this and then turn in work they copied from the Internet, I definitely don't want to hire them. Even if they weren't after the certificate. That's like cheating at solitaire. It's just sad.
Also, do you have any evidence that the no-cheating, no-publishing-homework policy is buried in a TOS? If Coursera hasn't made it obvious enough, then sure, people could have made a mistake. But Odersky's a smart guy so his reaction makes me imagine he made the requirement obvious.
Nobody smart hires purely based on the certificate, but the question is what value one assigns to it. Anybody with a degree from a strong CS program is much more likely to get an interview from me. Ditto for anybody with a good online portfolio. I'd like to assign some value to Coursera courses, but we'll see.