There is no point comparing anything on this level to industry-leading authority websites. They can get away with doing pretty much anything they like.
Agreed, but they can't get away with everything I can tell you.
I agree with your fundamental point, but just as a note it won't pass any anchor text benefit as only the first link to a given URL on a page is counted for that. If the logo or first nav link links to the homepage instead, then that will mean the footer anchor text is ignored.
I have tested, using the footer links of a branded, aged site, altering of anchor texts and watched the resulting changes in SERPS to both the actual site itself and the one being linked to, it is infact very difficult to get your head around, especially when you have a central brand, with multiple links in the footer to related, owned sites.
Not only do the anchors make a huge difference , but it is almost instantaneous, certainly within 12 hours of the change.
Like remove the link, watch the site die, put it back, it returns, change the anchor, watch the SERPS jump about for a coupe of days and settle down in a different position, it can in fact change hundreds of rankings that had otherwise been stable, both up and down.
Obviously these are very aged domains, but the principal is the same, or so I've seen when working on older sites.