wooooow, i'm really surprised that adcom would allow that many deferrals

i don't think it could be that high. that would mean there had to be an unusually high number of people coming off the waitlist at wharton last year.
and i think the high number of WL candidates comes from them interviewing fewer people. if you're already more selective in who you interview, there's a higher chance that you like that candidate enough to give them a shot should your waitlist open up.