Yeah but in a lot of instances it becomes an expectation rather than a 'wish-list'.
What I don't like, aside from the degradation of DM control over the game which I'm very Gygaxian in my viewpoints on, is that you end up having to force illogical situations in order to solely cater to a player's wishes. And then what's worse is that the very players you're catering to start complaining about it and calling you out on plot-holes because of it.
"It's funny how this filthy orc tribe is scrabbling for scraps in the forest when they have a king's ransom worth of treasure scattered through their lair. And why weren't they using it all against us?"
I don't want to refer to any of this as being anyone's "fault", but I don't understand how any of this is a problem with there being a wish list and not a problem with there being a disconnect on either the players' or DM's end of things.
Player's have always had to deal with curbed expectations, especially if they're ignorant of, or misunderstand a rule.
The DM has just as much control as they did before wish lists were written into the rulebooks, and should never feel as though they're being forced into an illogical situation. The wish lists say what players and characters would like to have, and should never dictate the wheres, whys, whens, hows, or even the
whats of what they get.
I don't understand how, pre wish list, when battles were finished and you were supposed to roll on a bunch of random treasure tables to see what loot the players found, you never ran into a situation that didn't make sense. It drove me crazy when I didn't roll up (or more frequently roll for inspiration to see what I would then hand pick) loot ahead of time and incorporate it into the overall picture.
If there's a king's ransom of treasure in the orc camp, and no good reason why that the orcs weren't using against the players, it's hardly the fault of there being wish lists.