When I filled out the form it said I would receive 125$, not 1$. I am owed 125$, you can't go "whoa whoa, way too many people want restitution so we've decided not to give restitution" after the fact.
Worst case it needs to be paid out first come first serve.
A check for under $1 might not be worth the effort to cash, but I don't find a lot of value in credit monitoring either. If I were very worried, I'd freeze my reports, and use the free annual reporting to request reports on a staggered schedule.
As it is, I'm less worried about fraud than the hassle of thawing the reports in case I want to access easy credit in the future. Equifax is still on the hook for actual damages, if any.
You would really pick a check for under $1 over credit monitoring?