Test scores will always always always always always always always always always always reflect socioeconomic disparities, because there is and will always always always always always always always always always always be socioeconomic difference in student abilities. It is insane to say standardized tests "punish disadvantaged students and minorities". Tests are tests, they do not and should not care about students' socioeconomic background. Whether universities should account for socioeconomic status of applicants or not, that's their consideration, not test makers' consideration.
Of course standardized tests do not measure all aspects of a student, but they never claim they do. This critique is also silly. The problem is, it is extremely difficult to measure "traits such as optimism, curiosity, resilience" of a person, especially when you want to use the results in college admission. Current psychological instruments for those traits are not developed for that purpose. No serious psychologist will suggest colleges to use those psychological instruments in college admission.
Do no blame standardized testing for those silly reasons!