To be sure, the current system benefits the wealthy most. But that is broadly true of many business models; shall we outlaw Costco because the poor cannot afford lavish pantries and large chest freezers in which to store their warehouse-club bounty?
McArdle also thinks that affirmative action is unnecessary because the poor rarely go to Harvard anyway.
This is not to make fun of liberals or conservatives who think that more poor kids ought to go to Harvard; that would indeed be nice. But the fact remains that very few kids are going to go to Harvard, no matter how you play around with their admissions formula.
You could read the entire thing, but then you would be encouraging The Atlantic to continue their own affirmative action policy of hiring the incompetent.