Quick answer: Bug priority defaults to 'engineer's gut'. A simple formula (severity * frequency * regression-status) makes priority objective and defensible.
Priority gut-calls are subjective and inconsistent. Formulas aren't perfect but they're consistent.
Severity * Frequency
Sev-1 hit by 1% of players (low frequency) vs sev-3 hit by 50%. Multiplication finds the actual priority.
Add regression weight
Regression bugs (worked before; now broken) get 2x weight. They are quality breaches; treat as urgent.
Subtract age penalty
Old bugs that haven't been fixed have a reason. Either fix or close; the penalty pushes the decision.
Publish the formula
Engineers see why bugs are prioritized as they are. The transparency builds trust.
“Priority math beats priority intuition. Use both; let the math draft.”
Tune the formula quarterly. The right formula for your studio depends on your data; iterate.