The problem there is college. You'd have to either make college admissions much less "holistic", or make sure there are non-college paths to success (something people have been trying hard for many years with little success), or both.
Parents “above” that set let the legacy admissions advantage and golfs-with-Ivy-admissions-officers prep school counselor sort it out.
Kids seriously looking to get into highly-selective schools are a minority.
This does mean you’re opting your kids out of elite schools by not playing that game from an early age, but hey, you and everybody (the colloquial “everybody”—most folks) else.