It’s not penalizing anyone, because any and all of the teams can strategize the same way. They can make alliances, share information, share taxis (I think), share money, carry one another’s luggage, even. It’s only a “penalty” if you’re not able to create a workable alliance or engender the trust (or sympathy) of another team to create mutual aid.
The winner in Survivor is the survivor. The winners of the Amazing Race are…the ones who win the race.
You are right that any team could play poorly on purpose to perhaps engender an unfair advantage; it’s still a penalty to teams playing to the (what I deem should be) the spirit of the game (that is, well).
Expedition Impossible wasn’t a race. It was 11 races (or however many it was). Within each race there weren’t any bunching points or inter-team gimmicks. Last place was eliminated and they raced again the next day.
I try to think of Amazing Race the same way, but it is annoying when they not only bunch them at the beginning but at the end as well. Or fill a leg with tasks unlikely to re-sort the teams.
But I still like it and am not complaining, I just think there could be changes that I would approve of.
Hey, whaddaya know, this week’s episode is on on time! Now, is it required that this week’s thread had three or four “waa waa waa football waa waa” posts, or can we move past it this time?
I pit the football delay in NYC for NEXT week! 
Now, on to Thailand!