My high school had a similar relationship with a top 10 school a few years back. We used to consistantly send a couple of kids there every year, but after a couple of incidents (students faking stuff on apps) it seemed like we were on the “auto-rejrct” list. The counsellors swore up and down that there was no such thing, nothing was wrong etc, but for a couple of years no one from our high school was accepted to that university.
Eventually though, for whatever reason, people started getting accepted again.
My advise is that if this school is top pick and you don’t mind spending the application fee, go for it regardless of how small you chances of admission may seem. After all “you miss 100% of the shots you don’t take” and you never really know what’s going on behind the scenes.