All applicants including both rejected and deferred students during this round of madness deserve lots of credit.
Parents deserve some credits too. The parents who deserve the most credit are those who did not or could not proofread their kid's essays or homework. For parents who are able and capable of providing feedback, that is the least you could do.
For students who are rejected or deferred despite having a perfect or a near perfect profile, remember this saying “where you go to college is of almost no real importance. What is important is what you will do in college and after college", plus there is always a regular admission. There is high chance you will end up in a school you are destined for.
For parents who are angry that a 'lesser student' is accepted instead of his or her perfect child, your perfect child will do fine wherever he or she ends up. The ‘lesser student', on the other hand, needs a little push and pull.