How the H-1B registration and lottery actually work now

Employers register beneficiaries in a short spring window and pay the registration fee. Selection is a random lottery when registrations exceed the cap of 65,000 regular plus 20,000 for US master degrees. The beneficiary-centric approach means each person is entered once regardless of how many employers register them, which cut down on gaming. Being selected only means the full petition can be filed, not that it is approved. What is your read on this cycle?