If you want to build policy to change this, the Q everyone needs to be asking is, "why is Harvard and its peers NOT embarrassed by how few students they educate?" https://www.washingtonpost.com/outlook/harvard-and-its-peers-should-be-embarrassed-about-how-few-students-they-educate/2021/04/08/3c0be99c-97cb-11eb-b28d-bfa7bb5cb2a5_story.html

In part, they're probably not embarrassed because they educate twice as many grad students. There are still more than 22k students enrolled at Harvard by the latest stats. 1/

Another reason they're probably not embarrassed is that they believe the criticism is transitory but the prestige is more permanent. 2/

A third reason they're likely not embarrassed is that there's no consequence for the behavior. Application rates continue to soar. 3/

Reason #4 they're not embarrassed? They don't think it's their mandate. They'd probably argue that thousands of public institutions already exist to serve public social interests and demands. 4/

Reason #5 they probably aren't embarrassed is that their behavior isn't unique, which means they don't get singled out. Nobody talks about Harvard's admissions rate w/o talking about Stanford's and Yale's and Princeton's. They're protected by being a herd. 5/

Finally, I think ultra-elite schools aren't embarrassed because they feel the criticism is a "being on the outside" mentality and know almost anyone who criticizes them would give up an arm or leg for their child to have one of those slots. 6/6