Going for a hike or camping in on land preserved for the people by the people owned by the people should now be an exclusive playground for the rich? No. Just no.
I'd much rather it be the playground of the lucky, than the playground of the rich. Public lands are held in common trust in the name of all citizens equally, not in proportion to their wealth. If there's not enough access time to go around, then a lottery is an obvious way to approximate equitable access.
You can do it as a day hike from the Mitre basin to the south. I was there in Sept, no people, amazingly beautiful. Send me an email (see profile) for details.
I am resigned to the fact that I won't reach Mt Whitney's summit during summer again in my lifetime...