The subtext here is that those without elite credentials are at some disadvantage because they don't have a convenient signaling mechanism of quality to prospec

The subtext here is that those without elite credentials are at some disadvantage because they don't have a convenient signaling mechanism of quality to prospective employers. Stipulated. But if you have the talent to compete, this disadvantage is merely a speedbump. In 2012 you're just a git pull away from interacting with the decision makers at your next job. It's never been easier for programmers with top talent to convey their qualities to employers. One community that has always worked this way is the community surrounding the Linux kernel. Credentials are not even mentioned. It's all about the code and people routinely get hired on that basis alone.