haha, you are both right. The trend will not continue, because, well, it won't. The PE elite firms will push back in some form, altho it will be nuanced, and the adcom will come to its senses, altho sure, 80 pct accept rate at Bain Cap may become new normal vs. 95 pct, etc.
The fact is, the star applicants fr. those PE firms are often amazingly accomplished, they did not get accepted to Ivy/near Ivy colleges, get hired at GS and JPMORGAN, and then emerge fr. those boot camps to BX, KKR etc. for no reason, often with wide extra currics etc. as well, altho not during the IB years.
Agree on the other hand, that dif between 4 BainCap/TPG guys in class versus 8 is null in big picture, esp. since the real change in HBS is that it is becoming younger. One issue overlooked is arrival of 90 2+2 kids next year, also greatly accomplished, but, well, w. 2yrs versus 4 or 5 yrs experience, does that make a diff? Dunno.
One last point, THERE ARE NO BALLERINAS AT HBS, altho plenty of Divas, both in class, in front, and one big one at the adcom
altho I get your metaphor. The fact is, that while class is diverse in some ways, once it settles down, it becomes a lot like your college. And the Asian gals, the S. American guys, the US preps, and the rich + celeb kids all end up hanging out with each other. Any diversity you see is overlap of that. E.g. rich Asian gal hanging w. rich US guy, verus her "home" cohort. A case of class being thicker than blood.