While I agree with you, I don't believe that the current culture of college admissions agrees. In my (anecdotal) experience, most universities in the US value the kid who volunteered at all the politically correct places, took all the right AP classes and passed their corresponding exams, played varsity high-school sports, and knows how to write formulaic essays with minimal effort.

Also, any money that a teenager earns before college only raises the amount that the teen is expected to contribute to their college expenses, effectively lowering their financial aid.