Earlier quoted context omitted.
Correct. There's a belief at the very top of these schools that they only want so many people leading one-dimensional lives focused on entering upper middle class trades like law and medicine.
I'm going to go out on a limb and suggest that history will judge this line of argument poorly.
The Ivy League schools understand that admission is a ticket to a comfy-but-historically-and-culturally-insignificant middle-class life. Their goal is to guard against applicants seeeking that and to look for those who will go further.
It's not unlike VCs who guard against investing in founders who will take the first acquisition offer they see so they can score a few million and live comfortably. That outcome does nothing for them.