I would love to be a fly on the wall in their admissions office.
Up until they updated the website their admissions faqs indicated a rolling admissions policy. Now it says they review applications by strength. I don't know what the deal is with UNC and their method of admissions because even with their undergraduate programs they don't begin reviewing applications until January with many (not all) students not receiving a decision until April. I am not trying to be critical of their process (I expected to be waiting until mid April for a decision) I just really wonder what they are doing during the fall semester in admissions. That being said I guess one would hope that means they really are doing a holistic review of applications (not just saying it like some other schools), it just takes so long!
I do think they are going to try to release a larger number of admits within the next week or by the end of March but continue releasing decisions sporadically until May 1 (after all they did extend the application deadline and begin emailing fee waivers). But I don't think they want like 100 or so people attending ASD in March (based on a small number of admits to date) then like 300 people attending ASD in April.
Edit: I forgot to mention the Chancellors Scholars Weekend. I remember a few months ago it had a February date, something like the 21st or 22nd. Now it just says "February". Did anyone get invited or did the event not happen? If it didn't, to me that says they are still behind so there will be several more waves of admits.