It’s definitely not a perfect system and you’re absolutely right that it significantly favors people with strong support and safety nets, especially those of a financial nature.
That being said it’s a very easy shorthand for a company to take and is reliable enough to keep using it, just like how financial institutions in the US use SSNs as private identifiers because it’s easier and cheaper than running and supporting their own systems/assessments and mostly works well enough
I’ve been on the pixel A train the past few years, and wait until they offer me >$300 for a trade in. I got a 3A for I think ~$300 or so in 2020, and a 6A for $150 in 2022. Almost jumped to an 8a which would have been like $200 I think but there’s no reason to really besides shiny new toy so I’m holding out for another year or two in hopes a 4a-style size reduction comes again