I have a theory, so take this only as my theory, and now for my theory.
How does a top program handle the hundreds upon hundreds of applications? The answer is they don't.
What they do is apply an algorithm to the hundreds of applications and pop out the oh I don't know let's say
top 50. And from those 50 applications they play their game. Some are offered admits, some get rejects and
some get wait listed. And as for all the applications which did not make it into the top 50, well they just sit and wait
until which time the university feels is a realistic time frame that it would take to actually go threw all of those
applications, and then send out rejections to all of them. And so in fact the under top 50 apps are not even looked
at. It is called "How do you convert 750 applications into just 50 applications".
It would explain why some of us are watching others getting accepted, rejected, and wait listed while we just sit and
wait.