Joshua 14: 1 - 2

And these are the countries which the children of Israel inherited in the land of Canaan, which Eleazar the priest, and Joshua the son of Nun, and the heads of the fathers of the tribes of the children of Israel, distributed for inheritance to them. By lot was their inheritance, as the Lord commanded by the hand of Moses, for the nine tribes, and for the half tribe. (Joshua 14:1-2)

The selection of land in Canaan for each tribe was made by lot (chance), but it was overseen by the leadership. It is a good thing that we do not make most of our decisions by chance. Sometimes I am at a restaurant with a group and ask someone else to order for me because I don't want to decide, when I do this I am usually unhappy with what I get, no surprise there. When there is a clear best choice, we should take it on ourselves to decide.
Some decisions affect everyone for better or worse and are a clear choice between a small number of well-defined options, on such a matter there surely should be input from all or a representative sample of the people.
Some decisions are complex, with many viable loosely defined options and although important, may be distant from the experience or concern of ordinary people. Such decisions are better made by as few people as possible, people of wisdom and responsibility. One person making such decisions is most efficient, especially in a crisis, but such responsibility is not good for one to bear, so a committee will be best most of the time. The matter of overseeing the distribution of land was such a matter, where this process could be organised in many ways that were all viable but one clear way was needed to preserve unity.
Some decisions are simple but based on so much information that they become complex, and the answer will often advantage one group at the expense of another, sometimes predictably, sometimes unpredictably. The matter of which tribe and family should be given which portion of land in Canaan (for ever) was just such a decision. To give this decision to the many would assure that those deciding would be unable to comprehend the unlimited possibilities and vast information, thus they would have been ripe for manipulation by the charismatic few to their hurt. It would also result in bitter conflict from the top to bottom of society. To give this decision to the leaders would put them in great temptation to enrich their own family at the expense of others, or conversely to disadvantage themselves to avoid the accusation of corruption. Either way this would be unfair. Chance was the ideal way to distribute the land, it was done by the two highest leaders with representatives from every tribe present. There could be no injustice with such balanced accountability, and although there may have been some less than ideal allocation of land because of the randomness of the process, there were no real moral or social evils that would result from even the most unfair allocation, since everybody would have as much as they needed. For example if I happened to get a piece of land on top of a diamond mine I could become very rich, but although you would not have a diamond mine and would not get rich, because your land remained in your family for perpetuity, there would never be a time that you could not grow enough food to feed yourself and your family. Similar to social security, but much more fulfilling for you and less expensive for me.
As it happens, the result seems to have made fairly good sense, one tribe seems to me to have been least fortunate, and it makes a good case study. Judah received a large territory, but Judah was also one of the largest tribes and this land was the least hospitable both environmentally and militarily. Judah could have felt hard done by with this result. Ephraim received much better land and a similar area, also the enemies there were weaker. Caleb was the overseer of Judah. He did not complain, rather he got special permission to choose the most difficult place he could find for his own land and made a point of conquering it, although it was not easy. This area became the centre of Judaism, and the whole tribe of Judah became the supreme tribe of Israel, because they accepted what God gave them and made the most of it. You can do the same.