Following the PIE fatal accident, this article puts forth succinctly the perils of the GeBiz system and how it can be improved. But this problem also exists in other tender evaluation models that uses price as its most significant criteria.
If price is the most significant factor, more often than not it will reward mediocrity and thus potentially lead to a race to the bottom for the industry the bidders are in.
We always advocate to our clients that price shouldn't be the only or significant factor in their "best of X bids" tender evaluation process. Quality of the products or services, albeit harder to measure, should also weigh in just as importantly.