I feel your pain. My son was waitlisted. Applied Engineering with University Studies second choice.
GPA 4.2 Weighted
SAT 1970 (670/680)
rank 19/220
Varsity Sports, Eagle Scout, etc…
I agree it is very frustrating. My son applied to 5 schools, and VT and NC State were in the top three. Waitlisted at Tech and initially deferred at NCSU (waiting for a response). Alabama is climbing up the list rapidly for him with huge merit aid offered.
In trying to balance affordability of education, with them getting a good education it is really challenging. The other schools he is in are nowhere near as good reputation wise and were easy ins for him.