It may be possible that MBAs as a whole are undervalued for their price tag, but there's another set of candidates that are even cheaper and even more undervalu

It may be possible that MBAs as a whole are undervalued for their price tag, but there's another set of candidates that are even cheaper and even more undervalued. You can pick up kids that have 3/4 of the qualities on Horowitz's list for a lower price tag by recruiting candidates out of top tier consulting firms, banks, etc. E.g. the kids that would have gotten into a top MBA program if they actually wanted. The degree itself just makes MBA candidates more expensive.