This is bullshit and basically this kind of justification is part of the moral and ethical rot of most institutions in the US now. You do have a choice, you just want to pretend you don't to get away with it. Besides, no one outside of a few stuffy finance/quant shops ever even asked what my GPA was in college, they don't care.
Technically, that has been the case. You are either in an economically booming area, or an economically declining area. Even for those in the booming areas, the kids have to compete with a much wider pool of talent to be able to buy land for themselves to stay there.