Sharp concentration for selection via random partitioning?
It's not true that the algorithm runs in linear time with high probability. Considering only the first round, the running time is at least $\Theta(n)$ times a $G(1/2)$ random variable. Let $p(n) \longrightarrow 0$ be the allowed failure probability. Since $\Pr[G(1/2) \geq \log_2 p(n)^{-1}] = p(n)$, the running time is at least $\Omega(n \log_2 p(n)^{-1}) = \omega(n)$.

(There is some cheating involved, since the length of the first round isn't really $G(1/2)$. More careful analysis might or might not validate this answer.)

Edit: Grübel and Rosler proved that the expected number of comparisons divided by $n$ tends (in some sense) to some limit distribution, which is unbounded. See for example Grübel's paper "Hoare's selection algorithm: a Markov chain approach", which references their original paper.