Any thoughts on college bribery scandal from boarding school families?

Many families choose boarding school options for the great academic opportunities. Not everyone who opts for “elite” type institutions do so for vanity. For more context, family member may attend boarding school and just curios what other families are thinking. A little bit worried that maybe going to “elite” high school has downfalls because of public perception that those types of institutions cater to those privilege and wealthy only. This is not us but we don’t want family member to be pegged as such. Want to explore all angles of this important issue about education.