Unless you're using an unorthodox definition of 1% (e.g. 1% of demonstrated academic ability), you're mistaken. Rich people can afford to send their kids to private schools or live in economically segregated areas with high-performing schools. Charter schools do not charge tuition, making them available to the masses.

However, they often do exclude those who don't have parents actively demanding more for their children, those who perform poorly on standardized tests due to adverse home factors rather than innate ability, or those with special needs such schools aren't equipped to support.