Yes, something similar has been talked about in the past. The question is: Is a camp truly ready for the shock of being told "Your whole camp is not coming this year?" How many camp members will say "I only want to go if the whole camp goes" and how many will say "I want to go even if the rest of the camp doesn't go?"
You can't stop people from splitting like this, but then you get the situation where the ones who pooled together go, and the ones who wanted a chance to go regardless don't go but are important members. A bit messy.
If they do a lottery again -- I don't recommend they do this -- they can no longer do one where people can oversubscribe. That probably means nontransferable tickets, and not even fully refundable tickets. Ie. if you buy and change your mind, there's a meaningful penalty even to return the ticket to a STEP style program, and a huge penalty to just not go. This sort of regime is pretty harsh, and would push for many people to buy "group" tickets where the master buyer has their face associated with all tickets, and all must enter with this person. He or she had better be going.
If you don't do all these things, and you hold a lottery, you will get even greater oversubscribing. That's because people can ask for more than required, and can find a way to get rid of extras (transfer, return to STEP.) So it demands some harsh rules that few will like.
See giant panoramas of BRC: http://www.templetons.com/brad/burn