Just to add - I personally don't think it's biased. As long as there is a system behind the decision I'm all for it.
And saying the home team have been unlucky is a bit misleading. Only one hosting team has WON (Sri Lanka), but most home teams have made the final stages of the tournament - only Australia in 92, SA in 2003 and Eng in 1999 haven't. Just as often, hosting has made teams play much better than usual. Every other host apart from those 3 has at least made the QFs or super eight stages. Eng made the semis (at least) for their first 3 WCs. India and Pak made the semis in 87, NZ were semifinalists in 92, Ind and SL made the semis in 96 while Pak made the QFs, Kenya and Zimbabwe made the super stage in 2003 and WI made the super eights in 2007.
And saying the home team have been unlucky is a bit misleading. Only one hosting team has WON (Sri Lanka), but most home teams have made the final stages of the tournament - only Australia in 92, SA in 2003 and Eng in 1999 haven't. Just as often, hosting has made teams play much better than usual. Every other host apart from those 3 has at least made the QFs or super eight stages. Eng made the semis (at least) for their first 3 WCs. India and Pak made the semis in 87, NZ were semifinalists in 92, Ind and SL made the semis in 96 while Pak made the QFs, Kenya and Zimbabwe made the super stage in 2003 and WI made the super eights in 2007.