I'm surprised that this scandal doesn't seem to be causing anyone to think one step further and realize that the entire premise of "elite" colleges with competitive admissions is a device for the perpetuation of inequality. We're devoting most of our advanced educational resources to helping people who would already be successful reap even more rewards.
I understand the idea of meritocracy in fields with life or death urgency—maybe we should be as selective as possible to make sure we're finding the best scientists or whatever. But the idea that Harvard is using its hideously huge tax-deductible endowment to teach rich people's children to do high frequency trading is far more scandalous than these marginal cases of bribery.
As a society, we should not be devoting so many resources to helping the best-positioned kids succeed to the exclusion of kids starting with less advantage.