The "optimization" really is around signifying class. How much can you afford the exotic activities, how good is your network to get that unpaid internship or that volunteer opportunity, and of course you can't be in a financial situation where your child has to do menial work like retail.

There was a discussion here a while back with a college admissions person where they confirmed that volunteer work is a bonus where actual work is not. It's not explicitly stated, but anyone who comes from a family where they _have_ to work is at a disadvantage.