You're 100% correct. Rationing by wealth leads to equal misery as rationing by who happened by the grocery store sooner. However rationing by wealth is the surest way to increase supply quickly.

Do you like, not believe in monetary systems in general? This is how money works. With more of it, you can outbid people with less of it.

Like democracy, it's the worst system to have except for literally any other system we've tried.