Another full-time, long-term college professor here. I believe that this is exactly the correct approach. While we have the availability of a number of software proctoring "solutions" here, I refuse to require my students to install intrusive black-box software on their computers. Nor am I particularly fond of insulting them. One of the things that we forget is that these kinds of measures change the nature of perception of cheating from a moral failure to a kind of hide-and-seek game.
I normally teach face-to-face, and now am trying to cope with hybrid classes (some students online, others facemask-to-facemask in the classroom). Since I am more interested in understanding and application than memorization, the online exams are open-notes and usually open-book as well (since they really need access to property tables). This is not particularly radical, since this is the way that they will be practicing after graduation.
I know that there is at least some cheating going on, but the influence on scores does not seem to be particularly high according to a comparison of score distributions between earlier in-class vs current online results. I am probably a bit naive despite almost thirty years of teaching, but I do believe that students rise to our expectations more often than many believe. And I rebel against a test protocol that tells students that our expectation is that they will cheat.
"Ada is PL/I trying to be Smalltalk. -- Codoso diBlini