PG,
I disagree here.
Princeton already has had to overcome some popular NE stereotypes from the recent past for having admission policies based mainly on legacy, athletic, and developmental factors over academic merit well into the 1990’s.
Also, if someone has all the advantages which come from a higher SES background and still isn’t academically qualified, many could reasonably surmise he/she failed to make the most of his/her advantages and thus, his/her place should go to one who is academically qualified and made the most of his/her background situation.