I’m not sure Paul Graham’s use of “middle class” matches the colloquial one here in the UK. The students who are not getting in to Oxbridge because of their background are broadly privately educated.

I don’t think it’s controversial to say that Oxbridge has historically admitted a lot of kids from quite a small group of high cost private schools. The fact they’re adjusting their intake to somewhat reduce that is something to be celebrated.

Unless you’re a very wealthy person with kids at an expensive private school in southern England hoping that they’ll get admitted to Oxbridge, of course.