No I think your missing the point.
Everyone did have an equal and fair chance at grabbing the stuff. Everyone was/is free to choose to stay on property or not, to choose a longer stay on property or a shorter one. There are pluses and minus for each decision you make as to where to stay, how long, and when to start your stay. Everyone had the same options available to them. That is what fair and equal is.
And no, just because the system works for some people, doesn't mean that it had to negatively impact other people. The fact that someone chose to stay off property to save money, but as a result didn't get to make FP reservations as early as I did staying on property doesn't mean I negatively impacted their trip. It meant they made a choice.
You also seem try to pigeon whole a trip looking at it as a single day. I don't know many people that go to WDW and just spend a single day there. The beauty of the pre-planning FP system was being able to lock in your choices for your entire trip in advance. So no my getting a FP on Monday for PofC is not going to require someone to necessarily wait in line longer on Monday. They can just as easily decide to try for a FP of PofC on Tuesday, and skip the line on Monday. The idea of trying to lower wait times across the board for all rides is just silly, and not in keeping with how most people visit WDW. If I can get on all the rides I want over the course of my trip, without waiting in line, that is what I want. The ride length on the rides I don't want to go on is irrelevant. The ride length on the ride I have a FP for tomorrow is irrelevant today, since I don't have to wait in it.