Number of students seeking biglaw and number qualified and worth a firm competing for are two totally different things. Just because someone at Cooley wants biglaw, doesn't mean they will get it. Good economy or not.
Also, with regards to "when every firm does something it isn't scrutinized as much," while I agree with that statement, it has still yet to be shown that many firms are rescinding offers. There are rumors of it, but nobody has yet to mention a firm doing it by name and it's been nothing more than the usual gossip.