Why is it infuriating? They offer more acceptances than they know will attend too. Would you rather they offer exactly the number of spots they have available and then only let someone in off a waitlist if someone else declines the offer?
At this point, they don’t know who is coming and who isn’t. They don’t know is there is any money left over, but they might know that 50% or 60% of their offers are already accepted (like your daughter) and that those acceptance are tied to a % of the merit money.