It's interesting to see how the UC system has evolved since affirmative action was banned by Prop 209 in 1996. I was at UCLA at the time and the ratio of admitted students changed dramatically the very next year. If I recall, Asians made up about 25% of the populations at UCLA and Berkeley before Prop 209; the next year Asians were a plurality of admitted students exceeding even white students.
I recall the heated debates on campus prior to the statewide election that year. You might find it strange, but protests against Prop 209 were largely led by Asian students - the student body president was Chinese. Many Asian students supported affirmative action even though most of the policies came at their expense. As noted in the article, affirmative action is largely neutral for white students - especially at the top universities.
Interestingly, my next stop was Michigan Law School where I witnessed the next great battle over affirmative action. I found myself strangely torn by the dispute. As a Michigan student, I wanted to support the school's admission policies, but it seemed unfair that affirmative action largely came at my (and others like me) expense.
As the article points out, Asians have faced severe discrimination throughout much of their history in the US. From forced labor of Chinese on the railroads to segregation to internment, Asian history in the US has been as challenging as almost any other ethnicity (the notable exception being black slaves). Yet, instead of benefiting from any preferences, affirmative action has, for the past 50 years, been carried out on the backs of certain Asian groups, beginning with Chinese and Japanese and Taiwanese, and has come to include Korean.
As the article states, private universities can discriminate if they want to, but it will be interesting to see what happens if a top private university is denied federal funding. Federal funding includes federal student loans which are important to almost all schools. The Feds successfully used this tactic to get military recruiters onto campuses (schools wanted to ban them ostensibly because they discriminated against gays). Harvard's endowment is big enough not to care, but other schools may have not choice but to fall in line.