Elite institutions could do nothing and still add market value simply by colocating people with high market value who meet each other and create lasting network

Elite institutions could do nothing and still add market value simply by colocating people with high market value who meet each other and create lasting networks and friendships. I do think that on top of that, they add value because students can be given more challenging and stimulating coursework. The difference in Math education between a top college and a college with loose entry requirements is staggering - we're talking people doing hard proofs freshman year vs. undergrad seniors taking upper level math courses that don't even have proofs, just computation.