It is legit but it is not for special draw, thats for a general elk tag draw (and deer as a combo if you want, seasons run concurrently). For the last three years we have had between 10-15k surplus licenses after the draw was over. Those then go on sale OTC first come first serve. They then sell-out.
If you put in for the draw, general tag, its 100%.
Montana manages about 80+% of its units for opportunity rather than quality. The rest is managed for quality and the draw for those hunts are tough like the rest of the West. Some take 25-30+ points like Bitterroot Muleys... Ill never get that tag before I die.
Its doable, if you do your research, to get your elk on a general tag. The memories are worth it regardless!
I hunt a high traffic general unit and had six bulls bugling around us on one day during archery season last year. All of them 5x5 or better, one big old 7x7 that ignored us. Higher traffic this last season than any other too... it was ridiculous, just have to get up earlier and out hike the others...