Wait lists do move in some years when, for whatever reason, not as many kids accept as the school expected (of course the school wants to be fully enrolled in order to get tuition $$). It's not correct that "everyone who doesn't get in gets waitlisted" nor is it correct that a school's waitlist is a fiction -- it just depends on the year. Best chance of getting off WL is for classes that have the most slots available (e.g., 7th and 9th at many schools) as they're the hardest to guess correctly for the schools, especially when they're also big admit class-years for other schools the same kids are applying to.