I’m curious why you see this as a problem.
If you consider the number of kids with “good profiles” (which you haven’t defined), there are nowhere near the spots available in the “top 50” (which you haven’t defined or attributed to your source of preference) to accept all. Also why is “top 50” important?? There are few majors where this matters.
Personally, I want my medical doctor to be held at much higher standards than an undergrad. I say this as the parent of a premed…if she doesn’t meet the criteria, she needs to pivot and find a better fit for her skills/abilities and goals.
I’d also prefer research PhDs to meet an elevated level of academics and intellectual pursuits than the average undergrad.
I’m sincerely flummoxed but happy to discuss your gripes.