You shouldn't have been able to formally verify the algorithm fails to protect the critical section. Wrapping ticket numbers can lead to starvation (literally, if we follow the baker analogy), but the algorithm protects the critical section so long as thread IDs are unique.

The sort of environments in which this is a problem would be extremely uncommon. For a start, you need continuous contention. If you ever get a break in contention you no longer have starvation, and you 'reset' the ticket number monotonicity - to zero, if you actually take a maximum of entering thread ticket numbers instead of a cheap global counter.

If you do actually have an environment in which you expect to have continuous contention over a critical section, some quick napkin math can tell you if it's something to worry about based on the running time of your critical section. If it's over, say, 10ms, you've got a few years of runtime before it's a problem. If it's under 1ms, maybe you want to use 64-bit arithmetic for your ticket number so you can run your system until long after the human species is extinct.

You probably got a 'B' because you didn't give the professor the answer they expected, though, not because of any technical reasons.