What you describe is exactly what enrollment managers do. They make decisions about how financial aid will be packaged for students who are accepted.
Remember that sometimes the students with the best application packets are using the school as a safety. Enrollment managers have to balance giving money to the "best" with giving money to those they THINK will attend.
This is very interesting, and makes a lot of sense. The inadequate award package that we got was from my son's "safety" school, so perhaps it was apparent to them that he was not likely to attend.