All of the Chefs I know and have worked for look at the Red Seal as a level of commitment, and look at it favorably. There are many well-paying industry jobs out there that require it.
True, it does not always mean you know how to cook like a star, but by going through the apprenticeship program or challenging your exam you are showing prospective employers that you are serious about cooking as a career.
Learning to cook a menu is easy. By taking the initiative to apply to write the exam (my application being 14 pages long) and hopefully pass you are proving that you care at least that much, and this is a skill that has proven very difficult to teach.
Writing the exam took three hours, and it was not true or false, but rather multiple choice and not quite as simple as other posters have implied. You will need a well-rounded skill set in order to pass, ranging from food safety to business concepts to industrial cooking techniques.
Does everyone remember the proper utensil to use when making choux paste? This could be a Red Seal question!
If your prospective employer starts laughing when you tell him you have earned your Red Seal, thank him or her for his time and excuse yourself. It is most likely them who will regret it, not you. It’s an employee’s market right now, and that won’t change any time soon – there is always something else around the corner.