Yes, and some people do get big scholarships when accepted off the waitlist, but you only have leverage if after all the effort of waiting to get in, you are willing to say no if the price is too high and go with another option or wait a cycle.
... expect to get, e.g., consulting, banking, high paying management, etc ... who work in banking/finance/consulting with an MBA already worked ... in banking/finance/consulting before and they just come ...