If I understand it correctly, they claim that you must be in what is thought to be the top 2%, in other words your IQ must be over 130-something.
But this does not mean that they reject 98% of the people that take the tests. People interested in taking that test must already be, I suppose, in the top 10% of the IQ distribution (125+?), or so they think. If this is true they they do reject 98% of the applicants but only 80%. Yet I suspect they reject even less.
Any source or third-party evaluation of their acceptance rate?