I don’t agree with your son’s class president, and I don’t agree with you.
Sleep, good grades, and a good social life are all perfectly compatible —unless your definition of a good social life is staying up all night partying, I guess.
Likewise, baseball, under budget, and strong academics are also perfectly compatible– unless your definition of “academics in line with your son’s grades/score” includes only highly rejective LACs in the Northeast.
Maybe the difference in perspective is regional? As an example, I have 3 friends who graduated from Lawrence in WI. One is an award-winning physician leader, another is a successful attorney in Manhattan (who continues to win athletic events in the Masters division of their sport), and the 3rd is a successful academic geologist. Each had their pick of grad schools, and jobs afterwards.
The schools in the Midwest are quietly strong. Don’t let the lack of snobbery fool you.