..I've sold 2 iPads and 5 iPhones and erased them all using that method, and never had a problem. ...
That is a prime example of terrible logic. It does not indicate that anything was erased.
Other examples of poor logic:
My friend deducts his Vegas vacation and losses as a business, and never had a problem.
My friend deducts his swimming pool as a medical expense, and never had a problem.
We have fake owls on the back porch to ward off bats, and never had a problem.
We drink 5-7 glasses of wine and drive and never had a problem.
We buy dope from a guy on the corner and never had a problem.
We put fake degrees on our resume, and never had a problem.
I send our credit card info, SS # and passwords in an email to our kids and never had a problem.
Bottom line - never having a problem does not mean it is okay.
Your data was probably erased, but all your experience proves is that nobody has decided to access and/or use your personal data for anything.