[argumentum]

Why would anyone make such a "determination" on hearsay that the clearly #1, gold-standard program is a "frat-house", promulgated at that by founders who were never part of that program?

The acceptance rate is now ~1%, so according to you nearly all those applying are irrational (the vast majority of even high quality applications will have a less than 80% chance).

The order just doesn't make any sense. Even the best students don't assume they are going to get into a particular dream school (MIT, Stanford etc), unless they are nuts. And those have about 5-10 times the accept rate of YC.