I guess I take it for granted that top research universities intend to directly serve top students and researchers, and the general public will benefit indirect

I guess I take it for granted that top research universities intend to directly serve top students and researchers, and the general public will benefit indirectly from the research they produce. If you entirely reject the idea of meritocracy, then yeah, go nuts. Just hold a lottery and the 2,000 luckiest kids that year go to MIT.