The question isn't "can the SATs be gamed?", though. The question is "can the SATs be gamed more than whatever other criteria you use?". Simply analyzing one half of the equation won't produce a correct answer.

Rich people can game standardized tests. They can also game grades. They can game admission essays. They can game interviews. If colleges admitted students based on brain fMRI data, I wouldn't be at all surprised to find out that rich people managed to exploit that, too.

Are the SATs unfair? Absolutely. Are they more unfair than the alternative? I'm not convinced. I usually prefer the devil I know.