They don't publish their "academic excellence" scores, though. An imperfect proxy might be better than none--depends how imperfect it is.
Anyway, you just repeated the original claim, "elite universities have many well qualified candidates fo each slot", and ignored my point which is that Harvard is arguing in favor of its policies by arguing that this isn't true!
Harvard might well be wrong, but at least if they've claimed the contrary, you should address their claim, not just keep repeating the "lots of well-qualified candidates per slot" thing.