Well clearly there are still lots of brilliant kids at MIT. But there could be a lot more. Maybe that's not the school's ideal of a "well-balanced class," but it certainly is not fair to the kids that deserve to be there.
And the URM's and girls I know that got in from my school over the last few years, honestly had NOTHING over the much more qualified, non-URM non-female (mostly males
) candidates who were rejected.
Caltech has a much fairer admissions process, which is probably why it's risen tremendously relative to MIT over the past years in terms of the public's awareness.