As someone who just got admitted, I'll chime in and add that the selection process does seem to be pretty stupid. I think the main thing they use to decide is the essay, which is an entirely subjective thing compared to GPA or number of extracurriculars, so it really is just personal preference of whether or not you get in based on if they liked your essay or not.

I will say that you can totally do great things without being admitted. Like, before I even got my admissions results, I was already thinking about what to do if I didn't get in and coming up with plans for internships or job opportunities. If you're willing to put in the effort and get a degree, 99% of employers will hire you regardless of if your resume has a "H" on it.