But then doesn't it come down to grades, test scores, and extracurriculars etc? Rich parents are already paying for huge amounts of tutoring, coaching, and test prep, along with personally chauffeuring their kids all over the place in order to rack up the extracurricular and volunteering hours.
Sure, you can mandate an "equity score" for admissions but at some point are you going to be admitting students who can't handle the coursework? Grades are more than just an arbitrary barrier.
I agree admissions processes have problems, but I don't see how your comment relates to the issue at hand.
As long as conditions exist, someone can study or hire expertise in helping to meet those conditions.
[1] This is obviously a simplification because of in reality the condition is citizenship/residency, but that's a whole other issue.