I was just watching a podcast interview in which a British-German professor employed at an Ivy League university in the US, was talking about the elite universities in the US, and how there is no equivalent in Germany. [1] The interview is in German, but what he is basically saying is that the American attitude is to very openly and purposefully create and maintain this system of elitism and everyone is openly in competition with each other. All of this is alien to us here in Germany.
At first glance it seems like we got the better deal. But then you think more about it more. All the German elite send their kids to study in the US instead of studying in Germany, because there they get to network with the elite kids from all over the world. But this is not a very good thing for Germany. First of all, we have less say in how he next generation of elite in our country think. Secondly all the smart and talented people in Germany who cannot afford to emigrate get no chance to mingle with these elite kids.
So if we had a system of elite unis here in Germany it might on some level be better.
[1] https://www.youtube.com/watch?v=w4Y9SomH9Nc