Academics

I was curious on how exactly academics are considered in college admissions. Academics are of course very important.

However, I've heard that academics (GPA and test scores and class rank/rigour) are what get you past the first check. In other words, if your academics are past a certain point, they will no longer be very important. Is this true?

So, like, if your unweighted GPA is above 3.95 and your SAT is above 1500 and your class rank is in the top 5%, then the major factor that determines whether or not you get in are your extracurriculars and essays and LOR.

In other words, if AOs are deciding between a student with a 4.0 and a 3.98 GPA, their extracurriculars and essays will be far more important? Is this true?