For your second argument, I know what you mean, but that's also totally subjective, dictated by chance, and would apply equally across the board for all candidates. Even if that happens, it sort of naturally levels itself out competition-wise.
Also, remember that you're evaluating the employer too - do you want to work for someone who chooses employees that way? Would you want to work with someone who has a closed mind and an axe to grind about certain concepts? I wouldn't trust people like that to make good decisions that will make the company succeed, thereby keeping me employed - let alone providing opportunities to advance. Plus they sound like they'd be a pain in the ass to work with.
That would be difficult for people who work for companies that claim presumptive ownership over everything they produce.
Heck, even reasonably good software can produce a very negative impression. Utilitarian code can be seen as ugly or overly simplistic. Elegant conceptual stuff often runs the risk of grinding against biases and preconceptions of the particular reviewer.