The 'good' student belives that the signaling mechanism and the understanding of the material is the same thing, they're identical. For those students nothing exists beyond (the signals of) good marks. So in a way they don't really game.
I'm engaged to a "good student". She was damn well and fully aware, her entire life, that the signalling mechanism is very different from actually learning useful material.
As a two grad-student couple, we have mutual academic envy. I envy that she finds it easy to memorize large sums of material and pander to the system. She envies that I find it easy to acquire an intuition for the material I really care about. I envy that she's "saving the world" as an ecologist. She envies that I can make a good living out of my field.