You and your family are willfully participating in a process that is idiosyncratic and unfamiliar to you. That said said you can decline to participate or you need to accept that the process is beyond your control and the rules are what they are. Questioning the schools intent, honesty or attaching an emotional element to a large institution’s process is simply unhelpful and unhealthy.
You asked how to “console” your daughter. She is clearly a high achiever who has experienced a lot of successes. Her current situation is an ideal time to introduce the adult concepts of resiliency and reality.
For her own good she needs to now move on and prepare for and maximize the opportunity she does have and be pleasantly surprised if UNC comes through.
I suggest this knowing full well you are acting out of love (and an awareness that I don’t know your situation). My advice would be for you to as a parent lead by example and simply say I am done talking about and or thinking about UNC. I know easier said than done but perhaps she will follow your lead.
I hope she is happy where she lands.