Earlier quoted context omitted.
Why not? The relationship between colleges and the accomplishments of the people attending them is tenuous at best. There are thousands of people at good universities that do essentially nothing, and wherever you are you have the opportunity to do better than them.
No, not really. People that get into Stanford or MIT did cool stuff when they were younger to get there. I still haven't done cool stuff!
The cool stuff projects are never the right career move, the work/life balance doesn't exist, and even then you have to be on constant lookout for the right team to join.
"I'm willing to put up with insanity" is a more important criteria for working on cool projects than what school you went to.
Source: I've been on those cool projects, I've hired for them as well. End of the day, the questions "want to write an OS, work 70hrs+ a week and live under constant fear of not having a job when you come in tomorrow?" get asked, alma mater, not so much.
Of course at the end of the day, you get some great stories out of it. You also get literal grey hair, potential lost friendships (I lucked out there! Saw plenty of it around me though.), and an ongoing base level of stress that is very unhealthy.
But hey, great stories.