But that could be because nobody ever even bothers trying and just instantly taps before they even hit the ground.
That's actually realistic. You don't just try to power out of an armbar like that. If you don't tap right away, your arm is getting snapped in half.
I'll go with Wasteland. The Cobra is pretty horrid, but it's a joke finisher for a joke character, so I guess I can give it a pass. As for the People's Elbow, I always thought it was the Rock Bottom that took the opponent out, while the Elbow was just an extra "fuck you".