Name a single charter school that accepts *every* applicant. When that happens, then we can talk.
Ok, Gateway Preparatory Academy (GPA). True, they only accept students who live in the State that chartered them, because otherwise the State doesn't pay, but they've accepted every student who has ever applied. That's because they haven't hit their State mandated cap on enrollment yet.
Any other Charter school in the same State that hasn't hit the cap the State Board of Education is willing to pay for also accepts every student that applies. The only time they have a lottery is when they are no longer legally allowed to accept more students, because the State has set a limit on enrollment. The only preference allowed when they have a lottery is that the children of the people who founded the school may get a preference if that's written into the Charter. Typically that might affect a handful of kids, as the number of founders is usually half a dozen or less and their kids were all enrolled before the school filled up years later.
Also, the Charter schools in the same State have the same rules for expulsion, special ed, etc... as the other public schools in the State. GPA has 2x the "average" special education enrollment and 2X the "average" gifted and talented enrollment.That's because personalized education attracts both ends of the spectrum.
There may be other States where the rules are different, but I didn't found a Charter school in those States, so I wasn't required to become an expert on their school-related law. I do know the way things work in a few States, though, and non of them work they way you state.