5ish- Zman tefila is a halcha. A person gets schar for keeping the halacha. He misses out on that schar if he violates the halacha.
Your second argument also does not make sense. Most people, I assume chasidim included, do not need to wake up at 11:00 in order to have proper kavanah for tefila. It would be nice to believe that all chasidim davening after the proper zman in the morning wake up the same time as everyone else and just got so caught up in their preparations for davening that next thing you know “hey it’s 11:30! Whooops!”. I think it is a real stretch to assume that this is what really happens.