At some level I just think it's funny rich people cheat their way into exclusive schools because the whole process has nothing to do with "meritocracy" and all you have to say is "legacy students, QED." Let some other people in the university rake in some of the cash.
But of course the popular myth of American elite universities is that they are filled with "undeserving" black students filling up the 60-80% of spots reserved for affirmative action. Which is hilarious if you've ever walked around on one of these elite campuses, or noticed that the same 3 black students miraculously appear on every page of their websites. The campuses are filled with failsons.