Waitlist for AE

I’m trying to make sense of my decision. I got deferred and then waitlisted. They offered me a waitlist spot for fall 2026 but also invited me to apply to the Vergo Abroad program then transfer in but that’s to LAS. I applied for aero, so I know it’s insanely hard to get in, but would you say it’s a lost cause. It’s a little discouraging being deferred and waitlisted but not rejected, I don’t understand where I stand here. Is a waitlist a step below getting the exploratory studies acceptance?