Your statement is correct, but it doesn’t paint the entire picture. I don’t remember the exact statistics off the top of my head, but for students in the top academic decile of applicants the acceptance rate for whites was 12%, Asians was 10%, and blacks was 56%. I assume it’s mainly due to IQ differences - a 84th percentile Asian may have equal academics to a 90th percentile white who may have equal academics to a >99th percentile black student based off IQ differences.*
*Don’t treat these numbers as exact - I did some quick z score calculations assuming that the SD is 15 for IQ across all groups.