> If you went to an elite school and your kid can't get in by competing fairly with other kids, they're subpar and shouldn't get in
OP's point is those kids will still probably wield exceptional wealth and power. Wherever they congregate will thus become the de facto centre of the elites.
They're doing that because it's the only leverage they have, because of our screwed-up system. In a more just world, the kind of "pay me $1 billion" stuff that Trump is doing to UCLA would instead be done tenfold to the most elite institutions to force them to entirely remake their operations on a more equitable footing.
OP's point is those kids will still probably wield exceptional wealth and power. Wherever they congregate will thus become the de facto centre of the elites.