Of course, using an typical issue tracker is the best way to deal with software bugs and feature requests. And of course it is recommended to prioritize the issues for the named reasons by you. So, the issue tracker is really fine, now I can access it. They only have to look after all issues. Issues that are allready older should gain priority over time and they need the possibility to indicate duplicates by the FDev and by users. Yes, it looks like the issue tracker is not completely done at this time compared to industrial standards/issue trackers from certain companies.I can't speak to the problems accessing the issue tracker just after the launch of the updated website, as I had immediate access (at least as far as I can tell). I can tell you though that the previous system of bug tracking (i.e. the bug threads) didn't really work as not enough people would post their bug reports there, opting instead to create threads about them in the general thread sections.
At least with the dedicated issue tracker this process is somewhat more formalized.
The confirmation process (i.e. more people "voting" for a bug) is intended to prioritize issues for fixing, not to let small bugs slide through the cracks. But if only one person suffers from a particular bug and a whole host of people suffer from another bug, then it would be wise to prioritize the bugs in such a way that the major impactors are dealt with sooner. As much as I wished that Old Duck "elephant butt leather" issue would be resolved, I think that the VSS bugging out was slightly more impactful and more urgent to resolve than some cockpit shadow render issue that doesn't break the game.