Anybody cheering the exclusion of some test or other, because it was a pain to study for in high school, is simply not noticing the frog-boiling secondary effects going on. Every bit of emphasis taken out of objective results mean more advantage for smooth talking, photogenic, well-connected people. Yes, some misguided parents waste thousands of dollars on SAT courses. But students can also prep using the $20 officia…
The problem of SAT is not that it can be prep'd, but it is too easy to be differentiating, and too simple so people can game it. By the way, isn't depending on SAT for years and everyone bitching about SAT is a gross failure of our education system? Take any serious test, be it STEM competitions, JEE, or NCEE, multiple-choice questions are the easiest part. The differentiating questions are all kinds of word problems…
We do have this kind of system in place, I'm closely involved in it. The Olympiads in the US basically fill the vacuum of objective assessment at a high level. The entry round for each Olympiad is pretty similar in level to, e.g. what you would get in JEE-Advanced. But they're also far less popular...