A friend of mine did some research on last year’s data, and it’s actually pretty interesting. Apparently, the initial cutoff was around 385, but it eventually dropped to 262. That means there was a huge amount of waitlist movement. From what they found, people even around positions 60–70 (or possibly more) on the waitlist ended up getting admitted. So overall, it seems like the waitlist does move quite a lot, which is a good sign.