That's actually surprising and I think it's a smart way for people to respond. Rather than trying to fight a losing battle and complaining about the problems of such a system, they seemed to realize the better course is to simply give everyone excellent ratings.
It also likely meant people were more productive as a result of not having to deal with getting bombed with a subjective score and other harsh annoyances, so in effect they were simply maximizing shareholder value.
On the other hand, Goldman likely does attract some of the best people, so everyone may just have been being honest.
Note that the "give everyone excellent ratings" strategy is explicitly codified in the standard documentation that is exhaustively and thoroughly studied by every analyst and intern before they ever come near a performance review.
It also likely meant people were more productive as a result of not having to deal with getting bombed with a subjective score and other harsh annoyances, so in effect they were simply maximizing shareholder value.
On the other hand, Goldman likely does attract some of the best people, so everyone may just have been being honest.