Probably simplistic but probably also not inaccurate. You have the people who will be directly hired through networking. Then you have everyone else who will

Probably simplistic but probably also not inaccurate. You have the people who will be directly hired through networking. Then you have everyone else who will shotgun their resumes and other credentials. Some will have better schools and portfolios than others but it's still basically a numbers game. (And, given it's a numbers game, they may not invest much in a given opportunity unless it looks particularly interesting or a company puts skin in the game--e.g. flies them out for on-site interviews.)