let me state mine:
Life is already full of inequality. There is however one thing equal - everyone is given 24hours a day. More time on road to school means less time in resting, extracurricular activity, study and/or family gathering.
The alumni parents may not care about their or their kids' time, but they deprive other kids of a chance of getting into a school within their proximity. They are forcing others to travel longer distance as a result of their self righteousness.
Lastly, Old money has not been proven to be genetically superior to the average mortal. They get an upper hand cus they are in charge of resource distribution. Will they outperform the average mortal if resources are distributed equally? Not necessary.
Want to get into a certain school? Stay nearby it. By all means.