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The inclusion of standards-based observation rubrics in teacher evaluation systems has been predicated on the argument that they improve the validity and reliability of observation scores. We argue that they should improve the validity and reliability scores over and above the inclusion of unstructured principal ratings, which is the counterfactual component of summative evaluations. We test this more rigorous assumption, finding that scores from standards-based observation rubrics add little predictive value for most measures of teacher quality beyond unstructured principal ratings. That is, principals already know the information contained in observation scores. This undermines the benefits of standards-based observation rubrics uses in summative evaluations and we argue they should be used only to achieve formative goals.