Previous GAPPer here. It's hard to get in because they have literally HUNDREDS of applicants (500 maybe) so sometimes you have great credentials but just the sheer volume of applicants means some great people have to be screened out early on. They simply cannot interview 300 people for 30 spots.
PCH first wants BSNs because if we go for Magnet, then we need to have around 80% of our staff as BSNs. A lot of old school nurses only have associates and don't want to go back to school so they need to hire new nurses with bachelors to pad that number.
It also helps to have a direct connection to someone there. Either via volunteering, knowing a friend who will write a note to HR saying you rock and should be hired, being a previous student who has a preceptor asking to bring you on, or meeting a manager in person. Yes, there may be fabulous applicants out there, but companies still will give props to those on the "inside" so they will take the fabulous applicants with a connection first, then go for the no-namers. No, they won't hire someone who stinks just because they have a cousin who works there, but if they are a good candidate and have an inside recommendation, they will get the job before anyone else. Also, they are very picky about their requirements: if you don't meet ALL of them, (like GPA, etc) they can throw your app out the window because 499 people are in line behind you who may meet them all.
Good luck, it's a great program and a great place to work. Now go become a volunteer with us and get your name out there :-)