PPRM you made a lot of good points about working the feedlots, and the kind of crew that comes and goes. Where I work winters, we have seen quite a few guys who think they are top hands, (and tell everyone they can corner long enough to listen to them), hire on, but soon prove to the rest of us what we suspected right from the get-go. If they were full time cowboys with no ranch of their own, and top hands, they wouldn't be looking for work at a feedlot, since that seems to be beneath them judging by the attitudes of the ones around here. The supposed top hands that do hire on must figure we're all blind and stupid if they don't think we can tell the difference between good and bad cattle handling skills, or the ability or lack thereof to read cattle and position themselves accordingly when making pulls.
The feedlot puts a lot of cattle in front of young horses, and if done right is an opportunity to develop the cow horse without too much heavy pressure. Where else can you sort through 10.000 head or more a month? Sorting isn't the same as cutting, but horses have to be light and responsive to get it done in a timely manner, and they sure need to be paying attention to both cattle and rider.
Of course the most entertainment is brought on by the ones who lose their tempers and put on a good show of going temporarily psycho when a critter refuses to cooperate. Gotta relive the boredom somehow!
As a rancher, I regard the feedlot as an integral part of the industry, and I've learned a lot about animal health, the various treatment protocols, and the feeding industry. I wouldn't want to work there year round, but sure don't mind spending winters there.