While that's true, uploaded files will most likely be "owned" by the user that the web server is running as, and since everyone on the server can use the webserver account (in the form of PHP scripts), it doesn't make much difference whether the "sticky bit" is set or not.
Basically, to sum up this thread: If you have a need for security, you shouldn't be on a shared host at all. Period. If you are on a shared host and wish to change the uploaded files folder, you can do so by supplying your own php.ini or, if PHP is loaded as an ISAPI module in Apache, use the php_value directive in a .htaccess file.