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Some people, when encountering a queue, will take the position at the end of the queue. They trust there wouldn’t be a queue if the reward weren’t worth the wait.

Why is rejecting prospective students something you expect a great school to do?

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I would expect a great school to be appealing to potential students, and therefore attract a lot of them. I would also expect a great school to have high academic standards that not all applicants meet.

It's a good thing you told us all that otherwise we wouldn't know which schools were "good" & which ones were "bad".

I would say its the applicants who seem to know which ones are good.

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