Thinking that you will or should get reviews when you don't make it on a panel is to me a signal that someone probably doesn't implicitly understand the game enough to get their paper accepted onto a panel in the first place.
Having now been on the other side for this type of stuff, when you get a deluge of apps for a limited number of slots it's pretty easy to filter out the apps from folks who are younger grad students and still learning how the game is played. You don't deny these people slots because their ideas are bad, but because it's clear they're not entirely thought out yet and aligned with the subtleties of the conversations in the discipline that would necessitate their inclusion.
Better IMO, both for panels and for those people, is to season themselves at ASA for a few years on roundtables and watching a bunch of talks and making progress in their work, lest you give them a stage on which they're not yet ready to present their best selves on.