There is no problem with assigning higher weight to the math grade when selecting students for (as an example) engineering and assigning higher weight to history grade when selecting students for history classes.
It is actually being done,
Also, the exit grades will be (at least where I live) based on both exams and tests during the course, so it is likely that they are more representative for the students knowledge than one single entry exam.

There is no reason why you cannot have both. Where I live, most university courses use the exit exams with weighting of the grades based on the course.
Some will in addition have an admission test based on the students specific skills and talents. Music and fine arts are two examples.
In addition some courses will require minimum grades above "passed".

Until NSA characterize a roomfull of people telling really bad jokes as an act of terrorism, my family is safe.

Spot on. It seems some people may think that insurance is some magic wand that will miraculously make losses disappear. I bet no insurance company will offer such an insurance without pretty detailed requirements and audits. In the end, those who can get the insurance at a price they are willing to pay may not actually need it...

And, like, the cloud provider does not have sysadmins? The only change is that instead of internal sysadmins doing the work, the cloud providers sysadmins do the job.