You got it right, parents have good intentions but they want to finance a rather controlled experiment then let him carve his own destiny.
If he applies to BA then theater would only count as a strong EC and he may not get in few tippy top schools. For next level of schools they’ll only pay if he is picking a safer major.
I’m wondering if he applies in BFA and gives a decent enough audition then there is a chance that his high stats would make him more attractive than applicants who aren’t academically strong? What flawes do you see in this plan?