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Plenty of people get rejected by one and accepted by the other. Rarely will you see someone accepted to both so this phenomena you describe is quite common among HBS or GSB admits as many people apply to both.
I wouldn’t be so sure about that. I heard somewhere that over 50% of HBS interviewees get offers so the downselection to that level is still a steep cut. Also once you throw out the obviously unqualified apps, there’s still a good amount of decent apps. One admissions officer at my school (T15 UG school) said that most admissions officers could throw out their entire admitted class and take in the next best group of students and that you would not notice a difference in the quality of students.