Well... you're not necessarily studying for most technical interviews in the same way that you would study for a test. You're first taking a guess at what you'll be tested on, how you'll be graded, and often how much time to spend on something, then you're walking into the rest of them. A very volatile chance at every step that isn't always influenced by every former step is indeed not technically the same as a lottery, but in an abstract sense it's not so different.

What's closer to an actual lottery is getting your resume picked. Than you get to study and participate in the blind dog race

You can’t ace a test and still fail.

You can ace an interview and not get hired.