If they were actually accepting all applications that meet the criteria, that would make first come first serve more fair, but there are quotas so they have to reject N-1 applications regardless of their application.
Lottery systems are generally considered fairer than first come first serve because they don't advantage people who apply early. Especially in an immigration-related process where circumstances are likely to dictate when you can apply, not everyone will have an opportunity to 'get in early'.
If you have a way to make the process simultaneously non-random, fair, and not have a cap (which I personally would probably be fine with eliminating but is presumably a non-starter for various political reasons), I'm sure some people would love to hear about it.
Lottery systems are generally considered fairer than first come first serve because they don't advantage people who apply early. Especially in an immigration-related process where circumstances are likely to dictate when you can apply, not everyone will have an opportunity to 'get in early'.
If you have a way to make the process simultaneously non-random, fair, and not have a cap (which I personally would probably be fine with eliminating but is presumably a non-starter for various political reasons), I'm sure some people would love to hear about it.