That's an acceptance rate of 2.4%, which is lower than Harvard and Caltech (both 3%, from what I googled).
It's an interesting development, if true.
That's not how you calculate the acceptance rate. Colleges accept way more people than they can actually hold, because they know most of the students they accept will get into several other schools too and are going to turn them down. The # they accept depends on how prestigious they are - Harvard can assume that 80-85% of its accepted students will take that Harvard education, while even a slightly lower-ranked school is going to have more competition so perhaps only 50% of accepted students will take a seat, and lower-level schools assume that only 10-20% of accepted students will actually join. Calculations are generally predictable based on the previous years' data.