I think we forget that getting into an elite is more than stats matching and the kids at the hs across town or further out in that area might also be great. And they can’t take them all.
If no kid matriculates, early or RD, I’m not sure I’d call the result blacklisting by the college. Sounds equally like kids and the hs aren’t “showing the love.”
And while an official position can be that turning down ED is serious, it doesn’t mean a legit financial hurdle kills the high school. There’s more to it.