Exactly. And it's worth reviewing how the so-called holistic admission process came to be: https://www.newyorker.com/magazine/2005/10/10/getting-in. TL;DR: it's not pretty.

A process that lacks objectivity will enlarge inequality gap instead of reducing it. And in general, the more complex a process is, the less transparent it becomes, and the harder it is to be fair to everyone.