It's all about where one places their bet...You look at the contributing facts in one way and other view it differently. Who is right? Time will tell...Place your bets!
To make your example relevant to the point I would say it would be better to phrase it as there were 2 schools which both have exams in a variety of subjects but the subjects are the same in both schools however one of the schools has overall pass rates of 99% and the other of 1%. We don't know the specific pass rates for each subject (as we don't with EMA) we just know those overall pass rates for both schools. We then speculate on which students are more likely to pass their exam as far as I understand in your view the 1% ones are just as likely to pass as the 99%.