The same is true in Washington. Personally I like NV's system. If you are not willing to burn points on a less desireable unit, only put down one choice. The draw odds are increased because when you do that your name is out of the pool for everyone applying for all other units.
In Washington, you have two "Quality" choices and 4 "Mature Bull" choices (same for deer). You have to buy your application seperately for each. I think it was $6.50 for "Mature Bull" and $13.50 for Quality Bull this year. This gets you in the draw only. You still have to buy your tag and pick your weapon and side of state before you apply. It is a jacked up system, and you are correct that it is hardly worth putting in for, given your odds and the cost even as a resident of applying for all the species.