Waitlists are generally not presented like this:
"We'd love you to join us, so here's an offer to do so. Of course, you can't accept our offer until we work our way through all four admissions rounds and have a better idea of who's coming. Then, if we have spots, we'll gladly take you."
Making a waitlist doesn't feel good. It stinks.
recruitniks get all upset because some kid flips at the last minute? No problem, we'll just input an early LOI date!
Now, the kid signs his LOI and the coach decides to leave for greener pastures? Hey, fuck you kid, you're bound to that scholarship unless you want to sit out a year (or more, if you want to go to an in conference school).
And whatever you do, do not allow the kid to profit off of his name, his image, or his likeness. Because, you know, some large corporation could come in and pay him money and that would be bad. Need to keep a level playing field.
Just that we don't string them along and let them know where they stand (most of the time, see TJ Sheffield).