"Everybody has won and all must have prizes." That's the Dodo Bird Verdict.
Colleges, expecially private colleges, now hand "A"s out like jellybeans, and everybody is an honor student. Here's A History of College Grade Inflation.
When I went to college, an A meant "extraordinary distinction" in my Liberal Arts studies, and they were delivered like precious jewels. Probably 0-3% achieved that. Of course, in math and science it meant simply that you mastered all of the material in depth, and made no foolish exam errors. The wisest graders would overlook careless computational errors if the rest was correct.
Graph below from the article: