The Importance of Legacy Admissions

I think having schools which value things beyond just sheer academic cleverness is obviously a good thing. Expanding the number of undergraduate places at these institutions is definitely something they could do. They don't want to do it because it would damage their standing in various league tables and they like being elite. I have this weird idea that what they should really do is just set tuition at a million dollars a year and then give everyone financial aid. If you're a member of the 1%, you're going to get much less financial aid than if you're a members of like 5%. Why? What? Why? It's already expensive and the 1% can afford and everyone else can't afford it