If the bare minimum is getting promoted then that means there is no room to slack.

If you look like you are slacking to your coworkers, then you probably are not doing the bare minimum. The bare minimum would be exactly what it takes to keep your job.

So I believe what you are saying is that there are multiple bare minimums from various perspectives. In those cases, you take the biggest one.

Another example for a gameable aspect of promotion is cutting up your achievements to look more favorable during a promo round e.g., salami slicing. If you hit a promotion, save the extra stuff for the next round.

And if you are at a large organization, you certainly have the data to estimate exactly the bars for promotion.