Indeed. Out of curiosity (and to uphold my own hypothesis), I watched a class of the middle-age group adult hunters at Thermal.
Of 13 horses, the top 3 all had nice trips with just one slightly deep/long jump. No one was completely perfect. Those top three, IMO, were placed based on the judge’s preference and that’s the only deciding factor where, perhaps, a Thoroughbred, with a comparable round, could’ve fared worse (or better!) based on the judging that day. Let’s say the judge hates the TB-type but you did all the above: worst case, you’d be 4th. This is at a top-tier national show. The 4th-placed horse took a flyer on the out of a line and was deep in one spot, and all rounds below that had more serious mistakes in some form—a swap, a late/missed lead change, multiple so-so distances, etc.