you mean just for the case of 1) Latest sort, 2) streams set to no auto-approval, 3) moderators doing large batches of approvals just once or twice per day? you may be right for that case.
For auto-approval streams though, images do not go live simply in the order that the moderator or system approved them, they go live in randomized batches, so being approved first simply means a higher chance of going live faster.