I can see a DEI program as promoting the social values of an institution. A position that I once had was this. If all ethnic groups have a bell curve of intelligence. All things being equal, the ethnic groups would have similar distributions of academic qualifications.
So if a particular ethnic group is disadvantaged in a quantifiable way. Then applying a factor to who is accepted into the academic programs. Would bring in people at the upper ends of the bell curve across the different ethnic/racial groups.
In other words, all things being equal across quantifiable ethnic/racial opportunity. This would bring in the top tier candidates across all ethnicities/racial groups. And if all ethnicities/racial groups are equal in intelligence. Then it would bring in the top tier candidates across *all* ethnicities/racial groups.