I'm pretty sure there are more than 70 outstanding students in the country (especially after FlexMed expands to include all majors)

My sister is at one of the best liberal arts colleges in the US and she also applied to HuMed. They gave out 4 interviews and 1 admit spot for ~20 applicants. It's already just as competitive as med school as it is.
Also, being one of those people that make fun of HuMeds sometimes, it's rarely malicious and I don't think it should be taken as such. Interviewees tend to have a more skewed view of this but I honestly don't think there's anyone that's "more qualified" or "less qualified" to be here.
Re: Continuum, I think they signed a MOU with NYU too and then they broke that off when Sinai suddenly started negotiating with them last year. So everything is still liable to change. Besides, now the auditing happens and if anything goes wrong both boards can still vote to put this off. Even if they both approve, this is still subject to federal approval (I have no idea what they think about the current NYC hospital-scape).
The great thing if Continuum gets integrated with us is that Sinai will gain training sites downtown, which is something that we direly lack in the form of a hospital (we have some clinic sites in Chelsea). Cornell works with the Wang health center in Chinatown and NYU has Bellevue, which both serve a large amount of Chinese patients. I am pretty sure the other medical schools will no longer be able to keep their affiliations with those hospitals once they're in our network, although given that Sinai already has 4 robust hospitals without the inclusion of hospitals we work with in New Jersey (Bronx VA, Elmhurst, MS-Queens, Mount Sinai proper), I'm not sure whether the addition of the other hospitals will make us have to give up certain sites to other medical schools since it will likely make us the NYC med school with the most teaching hospitals. Also, I feel like if Sinai takes over Beth Israel it might hurt Einstein too much in terms of clinical sites in Manhattan, so I'm not sure whether that will be permitted.
But all of this will probably happen after I graduate - it's good news still and reinforces my earlier point that you should want to come to a school like Sinai that's so ambitious about expanding and innovating. It's a good thing.