That is not the only scenario. More people want to apply to the best colleges than ever. Also given that these schools are targeting students/schools in road shows nationally & internationally it is likely that the increase in number of applicants is also due to the a larger percentage of the sample population's interest in attending these institutions.
As an anecdote, I recently took the GMAT and had MIT as one of the schools that my score was sent to. I scored well above the 95% which is a decent score. Since then I've been getting extremely targeted emails from MIT almost weekly either about an online chat / forum, some resources, etc.
As an anecdote, I recently took the GMAT and had MIT as one of the schools that my score was sent to. I scored well above the 95% which is a decent score. Since then I've been getting extremely targeted emails from MIT almost weekly either about an online chat / forum, some resources, etc.