Yes, I can't speak for MIT but where I went to school your grades basically dictated where you ended up placed in internships. Grading on a curve also fosters

Yes, I can't speak for MIT but where I went to school your grades basically dictated where you ended up placed in internships. Grading on a curve also fosters competition by its very nature. Doing well on a test doesn't mean mastering the material, it means beating 90% of the class to ride the curve to an A.