There are like 50,000 medical school applicants every year. If most of them make their first picks top 50s, with 2 choices each, that's 2,000 applicants per school under your system that are apparently going to be reviewed in 1 week. And how many people do you think are going to preference places like Harvard, Yale, NYU, etc. in their top 2? I don't think the modern medical school application system that places increasing emphasis on extracurriculars, service, communication skills, professionalism, fit/mission, etc. lends itself to an automated review process.
How is the applicant supposed to know their preference without having an opportunity to learn more about the school beyond what's on the website?
I don't think there can realistically BE a short admissions cycle that also gives a fair and full consideration to each applicant. I think the idea that 50,000 applicants can be placed in one month is ridiculous, it doesn't even happen that quickly for the residency match which is about half that size. Faster is not inherently better. I don't think a computer algorithm determining your fate is any less stressful. And not every applicant SHOULD be interviewed, so now you're adding in a bunch more interviews and work for admissions offices as well, prolonging the process even further.
I don't think the match algorithm is okay for residents, is the underlying argument here. In fact I think residents would be happier if there were "traffic rules" similar to medical school applications, which would prevent residency programs from manipulating residents with exploding offers (which was the reason the match was created in the first place) and also allow some additional measure of choice and control for many applicants.