ALOs correct me if I'm wrong but whether you refer to it as recruited or Blue Chipped, If your application is coded with an A then your application is supported by the athletic department and if accepted you are reserved a spot on the team that blue chipped you. According to pretty much every recruit we've spoken with, it does increase your value to the academy in the selection process.
Here's the thing about academy Inter-Collegiate athletics. As I mentioned previously, you are NOT COMMITTED to playing for the academy. You can be a recruited athlete, blue chip, or whatever you want to call it. Maybe it even helped you get your appointment. Then, when basic training is all over and you're ready to start your new life at the academy, you choose to NOT PLAY IC sports. For whatever reason. Maybe you don't think you can do both sports and academics and maintain a satisfactory grade and decide just to do academics. That's cool. The academy isn't going to kick you out. A "Traditional" university with an Athletic Scholarship is different. If you choose not to play the sport, you lose your scholarship to the school. The academy doesn't have scholarships. You can change your mind and not play the sport and no harm no foul. You continue on as a regular cadet. Even if you decide this on Day-1.
As for being on the team, the academy has "Recruited Athletes/Blue Chip" and they have "Walk-Ons". The difference is: The recruited athlete/blue chip does NOT HAVE TO TRY OUT. They are on the team. The walk on has to try out. So yes, there is a spot on the team for you if you are recruited/blue chip.
Here's the caveat. (Of course there would be one). Because the academy DOES NOT OFFER Scholarships, they are free to "Recruit" as many players as they want to. E.g. The typical freshman class will have between 50-60 players on the team. Except for a handful, all freshman play on the JV team. I.e. they are playing against junior college and DII type schools. The D1 rosters however has NCAA rules on how many players can be on the team. As such, even though you are recruited/blue chip athlete and on the team that first year, you can easily be cut from the team. This is very common. Of the 50-60 freshman football players, about 15 will be gone during the first season; another 15 gone after spring training. By the time senior year comes, there may be about 15-20 seniors out of the 50-60 that were freshman and started on the team. Each sport is obviously different with the number of recruits/blue chip, number authorized on the team, etc.
Bottom line: Yes, a recruited athlete/blue chip is guaranteed a slot on the team. But ONLY initially. They can be cut for whatever reason. But there are no scholarships, so there's nothing to lose. You simply become like the rest of the normal cadets. A traditional school you are on scholarship and they won't cut you unless you screw up. At the academy, you can quite the team or they can cut you because they purposely recruited too many hoping to get some really good athletes. Not having scholarships, the academy can do this.
Remember..... Almost never does a 5-Star type athlete actually get recruited to play at air force or any academy. If they are truly a 5-star and TRUE BLUE CHIP ATHLETE, then they are getting offers from just about any other school in the country. They are probably looking at an athletic career after college. The academy is not the place to go. Mind you, all sports are different. If you're not football, basketball, baseball, or hockey; then there's probably not a big professional sports career after college. So it's possible to get some high caliber athletes at the academies. But again, the team can cut you at any time or you can quit the team at any time and simply be a regular cadet. No scholarship to lose.