I think this is an understandably short sighted viewpoint. The question is not why the perfect candidate did not get into the Ivy. The question is whether their college experience and beyond was somehow harmed. Maybe there are studies, but I don’t think there any reason to believe that these perfect candidates don’t go on to do well at what ever non-Ivy school they decide to attend and find fulfilling lucrative careers.
In the end, it is about the kid and not the school. Nobody should feel they have less potential simply because they were denied admission at one or more schools. And the flip side is that admission to an Ivy is not a get in free card to the career of your dreams.