Yes, this is a big blind spot for Asian American parents.
Also fully possible.
But this is where I disagree. This is anathema to, at least a part of, Chinese culture,
which expects a direct correlation between effort and reward. Yes, maybe these kids have had sheltered, coddled lives relative to low/low-middle class kids, and this gives them a homogeneity of experience that makes college acceptance counselors' eyes glaze over in boredom. So what? They put in the work, both from the students' end as well as the parents'. The rest is demagoguery, as far as they're concerned.
And I would think the parents especially, or these younger voters who plan to be parents, are looking at it from that perspective. Your idea of what poverty does to people is... American-centric; it's a very Western ideal of the struggles of poverty. From my anecdotal experience, it doesn't work like this for Chinese families. I am personally acquainted with only one or two examples of your kind of "narrative", let's call it, and one of them is not even Chinese. These tend to be cases where the parents culturally assimilated very quickly, but I'm confident this is not the norm for a segment of the populace that tends towards ethnic insularity.
Have you encountered the
parachute children phenomenon?
Or
birth tourism?
During the college process, one of my close friends in highschool once, perhaps sardonically, lamented she's graduating from a magnet high school where she's unable to stand out from the rest of the academic overachievers (among whom she was only above average), rather than from a middling public school where she'd easily excel. The running joke was that it looked better on your college application to be a great student from an average school than an average student from a great school.
I'm sure this mode of thought is very alien to a lot of you, but this is how many Chinese/Chinese Americans think, in my experience. Anything to get ahead. Anything for an advantage, a leg-up, even if it's "artificial" or "ungenuine". "Genuineness" is another very Western idea, by the by. Don't believe me? Just look at the industry of Chinese knock-off brands everyone likes to make fun of. Do you think that came about ex-nihilo?