I forgot to mention that Rocket's perspective is substantially different from most.
We all know of several individuals who should never have been promoted, but brown-nosed their way up, and of countless FOs who are being given the most ridiculous of excuses (if any) for not being given an assessment. While MOST of the promotions are well deserved, there is a flagrant abuse of the system by managers in order to threaten stronger willed FOs who have concerns over the way the company operates, and vendettas are common place.