It is interesting to critique this idea for introducing chance. Pitch this idea to a poor person, pitch this idea to a rich person...that is your answer. It is hard to understand if you grew up with opportunity but for poor people this randomness represents a tremendous improvement. From a system that is designed to crush them, to one in which everyone has the same chance.
Otherwise, I suspect this would primarily benefit middle class students who can afford to pay for test prep and tutors, but not for a month-long volunteering stint in Nepal, and primarily hurt the relatively-sub-par-but-well-off legacy admits (which, who cares) and students with a lower SES that currently get a boost from consideration for that status/the follow-up effects of growing up and going to school in poor areas (which I do care deeply about).
I also think that all the volunteering and whatever should be cut from applications. Who gives a fuck if you played the oboe for ten years? Does that really matter? The point of music is enjoyment, the point of volunteering is to serve other people. I had a friend who was forced to play the saxaphone until university and it was tragic: he wouldn't talk about it, he only played to pass exams, he took no joy from it...like great but if you are being forced to do this then who cares? It has become another way to discriminate...and it isn't that much fun if you are a kid.