Most likely none at all. But if one is out to do bodily harm, and perhaps has forged or counterfeit ID, it will make a difference on whether or not they get on the bus in the first place, or will attract enough attention to raise the interest of those "glancing" over their ID. Nothing is fool proof, but I like to think those that are watching also look for anomalies in behavior or paperwork. I don't ask for miracles, just the slim chance of catching an a$$hole before they kill my fellow citizens.
If forged/counterfeit ID's are not going to be picked up if all the people are doing is glancing at the presented ID's.
I would be more agreeable to this request for ID if the ID's were recorded in some fashion. But to carelessly glance over them is foolishness and a waste of the commuters time & a waste of my tax dollars paying the wages of those doing this "check."