This could help beneficiary to know if his/ her company filed an H1B case or not. The rejected application tracking facility need not show all the information of the filled application, just company name and beneficiary name would be more than enough to identify genuity. This will reduce H1B fraud.
This Answer is purely based on my assumption and its just my point of view.
Well, it would be good to have feature. But the beneficiary and Petitioner name for a case are considered classified information. As far as I know, they are the information to be protected and if it falls in wrong hands it could be misused.
Even now if a case is not picked in the lottery or rejected for some reason, they send the rejection notice with a receipt number on it.You can ask your employer to share it.
But only drawback is, if its a lottery rejection case number we wont be able to track it in USCIS site. So may be they can bring it in tracker too. This would ensure more integrity in the system.