Do these ridiculous accept rates hurt society? That is, is there any measurable difference in human capital between the top 5.7% that got in and say the next 5.

Do these ridiculous accept rates hurt society? That is, is there any measurable difference in human capital between the top 5.7% that got in and say the next 5.7%, or even the next 20%? But only the particular 5.7% that got in will be able to use Stanford branding to get to the top of the interview heap for the rest of their lives. For everybody else, employers will have to either invest more resources to discern their quality or will forgo the added expense and also miss the opportunity of a Stanford-quality employee that just happened to not get access to Stanford branding due to the increasingly fantastical notion that what Stanford offers is "education" which can only be supplied to a limited number of seats per year.