I see what you did there 🙄. In fairness, not sure whether that was intentional or not, but I definitely laughed when I read it.
I believe the system is best for students -- it allows students to make an educated decision about whether to attend with full knowledge of what the next four years hold. My argument about the equal quality of clinical sites was merely to point out that it's not a bad system since there are no "bad" choices. However, you're right that waitlisted students are not given a choice at all, and that's not fair -- that said, neither is life. We don't really get a choice when it comes to residency, either. You can either rank or not rank, and the rest is history. That's real life, unfortunately, as much as higher education would have us believe that everything is decided according to a utilitarian sense of fairness. I think that it would be equally unfair for me to make a decision to attend UAB and buy a condo (which I did) and then in two years have someone flip a coin and decide I had to sell my condo and move for at least a year.
It's definitely awkward -- I don't disagree with you there. There are lots of rumors and half-truths and the system isn't entirely transparent with regard to regular decision applicants as to how to rank your choices. That said, I still believe it's to the students' advantage.