Another point about lootmaster some if you may be overlooking is how it can hold all items in the queue. With the current system the items eventually get distributed whether anyone lots or not---items fall to the floor if the random winner can't acquire it (or passed). When one person is manually assigning drops, you can hold them longer...gather a larger pool of items so maybe people have better opportunity to get items they want/need. Think back to sky LS and such...can't roll on a more coveted item at the end of a run because you spent your points on an item earlier.
In statics or otherwise preformed situations it can provide much more flexibility/opportunity in the long run than the normal lottery system.