I completely agree, MIT does get a lot. But I am not sure it is fair to say that, although it may seem true. A majority of students that are good end up going to those schools anyways, so statistically pans out. But that is not to say that a student who goes to a lesser known school, like myself, may not do as well or better at a powerhouse school. There is no way to prove this idea. If there is, I will write the proposal and get a grant out of this. There are many factors why people end up where they are, such as deciding very very late they wanted to go
It is my belief, it is what you make of it. I had the same belief in undergrad and I did pretty good for myself there. For me Im not letting anyone stop me in what I do. Although I dont go to a great institution, I admire and work great with my advisor who does interesting work. Grad work is proving you work independently and do it well.
So yeah it does suck, but you have to work hard everyday especially at a smaller school to make it, b/c some opportunities are just not present at these smaller programs. I didnt win either, but I it all works out. Enough preaching, back to the lab