For the top 50 (using USNWR ranking) universities, acceptance rates are wholly manufactured and closely managed. Why else would schools who have already received record numbers of applicants (many who have been deferred) continue to harrass kids to apply with subject lines like “Your deadline is approaching”, or “I’m eagerly awaiting your application”, or my favorite “Re: Your application is almost complete” ? Are they really looking for that hiddem gem of a student?
My S is smart enough to recognize and ignore the spam, but some (many) are not. It’s the “you gotta be in it to win it” lottery effect at play. Hence, the ever decreasing acceptance rates. Sinister.