It's not specifically to address the quality, but the way in which those employees are valued. If a company wants to bring in a crappy engineer for $200k/year, I think that's their business. If we put in place a point system (education, years of experience, technologies), you'll simply end up with all out fraud and resume packing. It ultimately comes down to what a sponsoring company is willing to pay. Let the market decide which ones are most valuable, rather than a random lottery.

Quality is how employees are valued in a business. That's how salaries are made. Overpaying in an industry is just a big of a problem as underpayment, it's far from a free market as you think.

Point based systems work in many countries very well, I don't know why you think "paying" for citizenship is the answer. What's stopping anyone in the world to simply pay a troll company for guaranteed live and work status in the US?