In my opinion, AA should be treated as an honest and sincere method of addressing and redressing past offenses; it's meant to palliate past atrocities committed by the US government. Sure, Asians are often held to higher standards, and our supposed innate smartness sometimes surpasses itself, but as I said, AA is an issue of history, not socioeconomic background. The socioeconomic factor, believe it or not, isn't ignored by admissions committees. That's what need-blind admissions exists for preventing.
While you, 1654134681665465, have a point in claiming that "America was founded on the principle that a person succeeds (or fails) through their efforts and not because of who they are," this doesn't excuse America from accounting for her actions. I'm sure science will one day prove that the lack of inherent intelligence some of you guys seem to imply is at the root of AA with its unfairly modified standards was actually caused by those same privileges being denied to Native Americans and African Americans, among others, generation after generation after generation. We haven't been victimized as systematically and as unjustifiably as African Americans have historically; that is to say our hopes and desires haven't been so magnificently impeded by Protean American "principles." The concept of URM is meant to identify members belonging to those groups which, owing to the sudden occupancy of the British, were brusquely displaced and subsequently denied privileges that these people arrogated to themselves as rights. A relatively lesser level of accomplishment is reasonably and should be judged less harshly as a result.
If my theory is baloney, at least the fear that led to AA is real and should not be brushed aside so quickly as some ridiculous vagary. I think as Asians, we should be proud we are judged by higher standards than others.