I suspect we mostly agree (although I don't have much faith in IQ as a useful predictor except at the margins) but there is a semantic issue; what do you mean b

I suspect we mostly agree (although I don't have much faith in IQ as a useful predictor except at the margins) but there is a semantic issue; what do you mean by "quality"? I find "went to an Ivy" a really good predictor for "above average performer", but I find it a weak predictor for "top rate performer", at least without a bunch of extra information. I also think the number top performing people who did not go to an elite college handily outweighs the number who did - but this is the nature of elite unless the selection criteria are very rigorous and targeted at something measurable. Your comment about people in institutions that highly value this is on target, I think.