As for people choosing majors in things they aren't actually interested to get admitted to a certain school, is that really a problem? I would assume people would choose their major first and then go to whichever school admits them for that major and not the other way around?
Not when the top of the top universities carry such good name recognition and clout that they can get you into to a wide range of jobs
no matter what your actual major is. Maybe it works differently somewhere that doesn't have that distinction idk.
Also there are PLENTY of people who choose to study something they aren't interested in because it looks good or whatever.
And also this brings me to another point on this. If you are admitting people to specifically, let's say, a physics program. Ideally, you want students who are really interested in physics and capable of doing something with the learning you offer. However, instead, learning or doing physics beyond the "normal high school" level is actually
punished under your system because the more time you spend on subjects you actually care about the less time you will spend studying for the One Big Exam that actually gets you into stuff.