> the people with the most money
That's not the algorithm employed. The algorithm is "the people who are willing to outbid the others". That is quite different.
Besides, with a lottery you won't know if you got the ticket until the last minute. How are you going to make plans with your sweetie, then? Or are traveling from out of town?
It was obvious to us that the "people with most money" algorithm was vastly superior since it made people work harder to get those money, thus enhancing the society. Also, the extra cash strongly incentivized and funded people to create more of the scarce resource.
The other algorithms failed to incentivize to such a degree that in the end we were starving and freezing because nobody wanted to work to create food, heat or any other products and services anymore.
There are only so many seats in a venue. Suppose there are 1000 seats and 5000 people want tickets. What's your plan on how to allocate them?