The problem is that the SAT isn't a very interesting test, IMO, for college admission. It doesn't test achievement, but is closer to an IQ test. I think its reasonable for top-tier schools to create a cut-off, but once you score above a threshold, I don't think it provides much value.

And as another poster noted -- Asians are still greatly overrepresented at Harvard. Faust really is saying that Whites aren't interesting (Blacks are of about average interest as their numbers match the general population now).