I first thought this was an April 1 post! I'll try to get more info ASAP.

Maybe it is this...
If the group-size reductions (when people show up to pick up their permits, but don't need all reserved slots) are handled online by the permit issuers, IF those reductions show up online, then people with the quickest fingers can reserve those slots online.

So... you could be at home in front of your computer many hours drive away from Lone Pine, and grab a last minute slot. Once you have that, call the Visitor Center, ask for a night-box pickup, and then drive up and pick up your permit that night, start hiking next morning as early as you like.

If the above is true, then the no-shows might show up online after the pickup deadline. Who knows???

This is all "It may be this..." conjecture. I'll call to get the full story, and post it here.