Q: if I put my zoned school at the end of my ranked prek application list, will I have less of a chance to gain entry than my neighbor, who ranks it #1?
A: You will not be disadvantaged for putting your zoned school lower on your list than your neighbors. The lottery aspect is the determining factor. The computer will randomly pick your application and work down your list of schools. You will be placed in the first school where there is room (with considerations to your "priority" for that school). If you are plucked early and your zoned school is at the end of your list - you may get in there over all those other "in-zone" families who may have placed it higher, but who are less lucky in the lottery (unless you get into an out of zone school that you ranked higher than your zoned school).
If you are plucked at the end of the process after other "in-zone" families have filled the seats (no matter where they ranked it on their app), then you won't get in.
Does that explain it?