I think calling it cryonyism/neptotism is the problem, as these words don't always capture what is happening. In many cases, the person receiving the opportunity isn't a crony or a relative; it is just someone who is known. There is some comfort that is felt in granting the opportunity to someone who is known or relatable. Perhaps it comes with a belief that one won't get screwed over after such a favor is granted, that the receiving person will remain grateful forever, and sometimes even reciprocate in the future. I am not justifying it.

This other comment reflects the same understanding in different words: https://news.ycombinator.com/item?id=49277355