It makes perfect sense that you if you got waitlisted at Vandy and Emory that you would get into OSU. Vandy and Emory are just better schools. What do they care about OSU? They care about the t-14 stealing their students not #'s 25-50.
It's neither a threat ("Let me in or else I'll go to a worse school!") nor some incentive to them ("Look at me, I got into a place that I should have gotten into!").