With respect to your experience, the impact of promotion chasing was heavily felt by product teams and I wouldn't expect it to be that visible to people on the promo committees. I watched multiple fellow Googlers rush project work and cut corners in order to be able to "ship" and put the project in their promo package (and be frustrated when they missed promo). In some cases I got to watch them abandon the project and move on to something else even though it badly needed additional maintenance and cleanup due to all the corner-cutting. In one specific case, all the corner cutting led to multiple significant exploit chains (one of them delivered persistent root on Chromebooks)

Maybe it was just way worse in my org (Chrome).