As far as alternate break vs. winner break goes, I think there's room for both.
As it's already been stated, if you assume that the players are robots and have a fixed probability of winning any given game (i.e the psychological effects don't matter), the outcome is the same in either format for an even race.
One factor that everyone here seems to be leaving out is that many local tournaments are handicapped, and that's when alternate breaks do affect the match outcome by giving the player that needs fewer games more opportunities at the table. Because of that, playing alternate breaks with handicaps will yield more upsets than if the same races are used in a winner break format. Even if you adjust the handicaps accordingly, the alternate break format will give the weaker player more chances to shoot (even if it's just stepping up and breaking dry), so the alternate break format is good for attracting players across a range of skill levels to a handicapped tournament.
In the case of a non-handicapped tournament, I think there's something to be said for the psychological effect of both formats on the player and the audience. In the case of winner breaks, there is a chance for a player to catch a gear and put together a package, which can be gratifying for the player, exciting for the audience, and demoralizing for their opponent. In the case of alternate breaks, there's a lot of pressure to win all the racks you break and coming back from a deficit means your opponent has to make a mistake on their break. Both feel very different to play and watch, even if the statistics say they are the same.
Having said all that, I really don't like either format if I want to see a serious display of pool skill. I know some people consider the open break a skill that should be mastered as part of being a well-rounded player, but I fall in the camp that considers it more of a trick shot and am more interested in the rest of the game following the break. Because of that, I'm grateful that there are games like one pocket and straight pool where the break is a finesse shot, or like american rotation where it is more of a randomizer. I understand why those games don't appeal to the masses, but for an experienced player/viewer that is over the excitement running out racks of 9-ball, I think they offer a lot more in terms of strategy.