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I believe 1500/1600 is top 2%, so it's weird you'd consider that not "well" to me.

It’s not good enough to get into any top school, and top 2% is simply not good enough when it’s effectively the same as the top 20%.

It's enough to get into any state school, and many people in places like MIT/Harvard/other-here have scores around yours.

It's definitely in range [1]. You could also consider retaking it, or taking the GMAT, LSAT, or GRE.

That range includes triple legacies, Jared Kushner types and recruited athletes. I doubt it’s applicable to people like me.