It will just pick the best allocation metric it has available, even if that metric would never stand up to scrutiny in the private sector, or any more directly measured domain, public or private.
A distressingly high percentage of humans like zero-sum status games. More people are happier when status is recognized as a semi-unbounded positive-sum game.
There’s not a whole lot to gain for the individual or even the institution unless they hit an absolute home run on the first try that also shows positive results very quickly. More than likely the decision will be questioned at every turn