The 500 mile oil change is due to the dry sump system. The LT1 cars with dry sump also required the 500 mile change.
I know that we are really straying off the OP topic talking about Corvettes (sorry again OP), but I only agree with your statement for cars built after 2016; however, cars that were built before 2016 GM released this statement below. My 2016 Z06 was an "early 2016" that was built in 2015, so GM told my dealer to change my oil due to the issue below of foaming that I was seeing. Later year models, GM released a statement that dry sump cars were required due to "break in contaminates." See after below for that one as well for 2016+ dry sump. I bolded everything to make it easier to find.
When I changed my oil at 849 miles on my 22 5BW, my oil filter left a nice puddle of shine metal in the oil when it was turned upside down for a couple of minutes to drain before disposal. See those pictures below. Normally you would miss this if a dealer changes your oil & filter. BTW - I expected some metal,
so not shocked BUT glad I removed it from further circulation. I will change one more time at 1500 miles, then annually or 3000 miles, whatever comes first for my peace of mind.
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To: Chevrolet, Buick, GMC, and Cadillac Dealers
2014/2015 Z51 and Z06 Corvettes - Additional Required Maintenance
The following message only applies to dry sump Corvettes that have not had their first oil change performed.
Some 2014/2015 Z51 and Z06 Corvettes may experience a condition that leads to oil leaking out from the air cleaner assembly.
This condition may be caused by running the engine continuously at a high engine speed with the first factory fill oil, resulting in silicone sealants in the engine's gaskets degrading the oil's anti-foaming agents. The oil foam has no effect on the engine's durability.
Effective Immediately:
GM is changing the required maintenance schedule for all 2014/2015 Z51 and Z06 Corvettes equipped with dry sump systems.
The new schedule will require the oil/filter be changed immediately after the break-in period, which occurs after the first 500 miles of operation.
Once the break-in oil change is performed and the Oil Life Monitoring system is reset, customers should follow the Oil Life Monitoring system for all future oil change needs.
Later models 2016+:
GM has changed the required maintenance schedule for all 2016 Z51, Z52 and Z06 Corvettes equipped with dry sump systems.
The new schedule will require the oil/filter be changed immediately after the break-in period, which occurs after the first 500 miles of operation.
“We now encourage all owners to change their oil at 500 miles
to remove possible contaminants created during the engine break-in process. And, as always, we encourage the
use of Mobil 1 synthetic oil – which is
a factory fill for all Z06 models, and Stingray Z51 models – and encourage owners to follow the engine break-in process detailed in the owner’s manual,”said Chevrolet spokesperson Monte Doran.
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849 miles on my 22 5BW, shiny residue in oil from factory oil filter (excuse the rag that fell in by accident on 1st pic). All the oil in this particular container came from just the oil filter removal that drained out from the engine:
www.caranddriver.com
and contaminated my brake fluid. I didn’t catch it for months because the brake reservoir was under another cover. Changing the oil & filter myself also allows me to check under the car issues, granted with this low miles, didn’t expect any. 
