It’s offered to all Texas residents who aren’t offered admission and are reasonably prepared for college.
Straight from UT’s website: “CAP is offered to Texas residents who meet the University’s high school preparation requirements, complete a freshman application for admission to UT Austin by the required deadline, and meet the enrollment requirements of at least one of the UT System universities participating in CAP for the designated academic year.”
So, basically, yeah, it’s offered to most who aren’t granted admission, but that doesn’t discount the legitimacy of the program. Definitely consider it.