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One reason why admission to elite colleges is so competitive is that those colleges have low student-to-faculty ratios. Undergraduates can talk to and sometimes do research with world-class scholars. The experience would be diluted by adding more undergraduates.
Arizona State and other large public universities have a different mission, of providing broad access to higher education. It's great if ASU can show other universities how to broaden access.
Large universities usually have honors programs that give top students closer contact with professors, similar to the contact in small colleges, but that kind of deep access is necessarily limited to relatively few students. Different missions have different methods, and hand-crafted scholarship is different from mass-produced instruction.
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