This is a nice sentiment, but unduly flattens the differences between colleges. While this:
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But, is it the only time you will have fun and grow as a person? No.
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and this:
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There is more than one path to prosperity and happiness. It doesn't have to go through HYPMS (or whatever the acronym is).
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and this:
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There are many ways to finding happiness in life, and I hope many of you will go on a path that suits you best.
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are absolutely, indubitably correct, and so a rejection from Harvard is not and should never be a crushing blow to someone's dreams, it's not wrong for students to hope for admittance.
Also, this:
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You go there, have a great time, and realized that you have actually learned very little in an academic sense.
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does not have to be true of one's college experience if you do not want it to.
I get what you're trying to say, and you're dancing on the border of a good and accurate piece of wisdom ("you will be okay no matter what happens, since college is far from the be-all, end-all of existence"), but I think your rhetoric takes it into the level of "you will be okay no matter what happens, and so you shouldn't even care about your admissions results, because all colleges are equal." I see why perry finds that depressing (I do too!). I think your advice would be more helpful with just a slightly different emphasis, acknowledging that some colleges are better, more fun, or places that make it easier to follow your dreams than others, so hoping for good admissions results from all the colleges to which one applied is reasonable, and that an applicant isn't foolish for feeling disappointed at rejection. The disappointment shouldn't be overwhelming, for all the good reasons you list, but to be able to attend a college that will make you happy isn't an unreasonable hope.