I agree! Just saying it wasn't super fun to realize (completely fairly) that I wouldn't be able to become a professor.

And I have a lot of sympathy for my classmates who only realized that when they graduated and tried to get a job. Universities have significant incentives to prevent their students from realizing there are a lot of people out there smarter (and more privileged) than them and the implications that flow from that.

Universities should continue to be selective, but they should accurately communicate the implications of that selectivity to their students.