In this case it isn't "we," it's a specific person and it's a reflection of his take on the world.

I think he outlined his own thinking pretty well. He wants elite colleges to stay as they are now, but more meritocratic in their admissions. Same elite institution, but with students from lower income backgrounds.

It's obviously an establishment-oriented donation, not a "radically transform education" idea or an "effective altruism" oriented idea. He explains his own thinking pretty clearly.