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As I allude to below, I think what you have to remember is by Tex Francisco

that there is almost no difference between the last 500-1000 kids that get in and the first 3000-5000 who don't quite get in. When you're comparing otherwise indistinguishable applicants, I suspect it's a big advantage. It's not that legacies get in with lesser qualifications. It's that for those whose qualifications would otherwise make their admission a coin flip, they get to play with a weighted coin.