I rarely see any FYP student get their first choice. Instead, many didn't get any among their 7 bets.
2. Students are not able judge from the 200 word project synopsis whether that project may lead to meaningful results within their FYP time. Attractive synopsis doesn't mean good project. Many graduate students are tricked into bull-shit projects, not to mention FYPs.
When 3rd year students ask me on FYP projects, I always tell them to contact a GOOD professor and convince that professor to propose a project for him (self-propose).