Another fun anecdote about those times and MIT specifically. My brother was arguably the top student to come out of the Atlanta Public School System in 1996. This was a kid used to being the best in everything he did. He starts at MIT and takes the Calc 2 placement exam (he got a 5 of course on the AP BC test) and scores an 11 out of 100. He said the teaching assistant sat him down and told him “we are not in Kansas any more, forget everything you think you know, you are not prepared to be in this class and we will not accept your AP test results.”
Unfortunately, I recall in 1996 4 or 5 students committed suicide at MIT due to the academic rigor (which is why the first year was pass fail).
I’m not advocating for this system just sharing stories told to me.