Many people would argue that "We're devoting most of our advanced educational resources to helping people who would already be successful reap even more rewards

Many people would argue that "We're devoting most of our advanced educational resources to helping people who would already be successful reap even more rewards." is exactly the point of higher education, and serves the goal of sustaining the power structures that currently exist. That's why "legacy admissions" even exist. If your dad or your mom went to Harvard, of course you'd want to sustain the family line and have an easy time to get admitted to Harvard too.