There are a lot of areas for deer that are 100% draw odds but you have to apply for that area and cannot hunt it with just the combo license. If you have points they will be used up even if you apply for a guaranteed limited entry area. I'm not sure if you can hunt general areas still if you draw it though. There are only a couple of these areas for elk though 302 and 310 I think but not sure.
Yeah MM the odds aren't great for most of the deer areas and some of the elk areas but at least you have a chance. There will always be high demand trophy units in each state that are almost impossible to draw. (some that come to mind: Colorado elk units 2, 201, and 61. Arizona elk units 9 and 10. Utah any elk unit lol) How much worse would the odds be if you could just purchase bonus points? The mandatory purchase of the deer/elk combo licenses keeps most people out. I'm not sure if it's the reason they do it that way but it does help the odds. As for it being not worth it: it's not for me, but if I lived in North Dakota or South Dakota sure it would be. A place to hunt elk and/or deer every year and build points or draw a great LE tag one day.
As for the odds being better for trophy species: I must be looking at the wrong odds! If you know of somewhere I can have better odds of drawing sheep, moose or mountain goat in the lower 48 than drawing a LE deer/elk tag in MT send me a PM NOW! There will be a reward check for that find! Cow moose, ewe sheep, and nanny mountain goats don't count. And don't say Idaho the odds are truly deceiving. You aren't just competing with people who are applying in the same unit. You are competing against the residents in the unit you pick and all non-residents no matter what unit they applied for. You must have your application picked before the 10% cap takes effect and while there are still tags available in your unit.