Phoronix tested the 7950X with/without AVX-512 and measured a 59.0% improvement (geomean) across benchmarks designed to take advantage of it.
So, I think you really can't say that Zen 4 added it only as a box-ticking exercise. For people who could actually use it, even the Zen 4 implementation provided very worthwhile benefits.
If you know a little about AVX-512, it's not too surprising to see some real speedup vs. the AVX2 implementation. Anandtech famously used a benchmark called 3D Particle Movement, that I think was essentially from Ian Cutress' doctoral research, which had both AVX2 and AVX-512 versions. The latter was faster by almost a suspicious amount.