Sometimes, getting reviews back on a paper feels a bit like this. I’ve actually had this happen, reading through reviewer 1 and 2’s comments and feeling pretty good. Then scrolling down to find the last reviewer has totally chewed it up. Surprise!
Of course, reviewer 3 is (most of the time) not an actual person/reviewer position- but rather represents the bad, unfair, or just plain wrong-headed reviews that we frequently get on papers and grants. Sometimes the part of reviewer 3 is played by the editor too. And sometimes reviewer 3 is actually right.