I'm not sure I agree that it should be done away with altogether. But it should be made more relevant as there are flaws in it, and this has made them more apparent.
As has been said, you could have given up a season ticket 2 or 3 years ago, after going home and away for 20 years, but still have kept the points and qualified for a ticket with over 22k points potentially. Is that person more "loyal" than the one who got that seat when they didn't renew but gets to as many games as possible?
I'm sure Marx, John Stuart Mill, Adam Smith, Plato, Kant, Descartes and Heidegger would have an interesting, but possibly inconclusive discussion, about that if they were all still alive.