Okay, here's my Old Lady perspective (my eldest gifted kid is 30, the youngest are 14)...
So what if the numbers are wrong? What if they're right? Either way, your kid is the same kid he would have been, untested and unsorted. Either Davidson is a go, or it isn't, or something else entirely different comes along-- but thousands of terribly bright young people have lived fulfulling lives without a gifted summer camp or a part-time enrichment program.
At some point-- at many points-- things will turn out to be Not Optimal. You go with plan B (or even C, D, or E), you give it your best shot, and things will be fine. Children are terrifyingly resilient, despite what people will want to tell you to the contrary.