> If you're running a University as a business to make money, it's incorrect because attracting highly talented students capable of such feats is expensive. Far better to find less talented students that will attend and pay tuition.

That depends. Isn't it possible that you'd get more money by investing in attracting the highly talented students and reaping the later benefits, like large alumni donations?

> If you're running a University as an educational institution it's also incorrect. Your students are not going to become deep, consciousness thinkers in a homogeneous group.

I hear this very often and it sounds like wishful thinking, not fact. Usually it's heard in the context of justifying race-based admissions.

> Also, as an educational institution is it your goal to improve society as a whole through education.

Are you stating this as fact? I'm honestly not sure since you wrote, "is it". If so, what if some do not share this goal?

> If there are minority students capable of finishing your degree program, giving it to them is going to have a far greater impact than giving it to a slightly more talented member of the majority.

How can you possibly know something like this with such certainty? It literally takes just one person to make this statement false.