That is such a gross oversimplification it is ridiculous. It works with the assumptions that
- people can pick whoever they want
- Politicians don't lie about what they'll actually do
- There isn't all kinds of financial fuckery involved that corrupts the whole system
I'm sorry to say that overwhelming government corruption is happening the world over.
You can write a whole essay of theory, but my experience is running several arch devices for years and years with no problems and having ubuntu distro upgrades break so badly I just reinstall completely every single time.
Another hiccup is that LTS are not actually running stable packages. They are running Frankenstein versions of packages with backports that are not supported by the project maintainers, because the software has to be maintained for security if nothing else.