Are "elite" schools a meme?

Just remember that apps are a crapshoot, you aren't guaranteed in.
On one hand, I'm at UC Berkeley, which is the school I was most excited about and was super excited to go to.
On the other, my best friend, who is at Harvard, got denied from MIT in favor of some political science retard hispanic kid. My friend was one of the smartest people I've ever met, and he's having a great time at Harvard (giving him therapy for Math 55 was always entertaining), on the other he deserved MIT and they picked some idiot instead.
Sometimes it works out and you go to the place you are looking for, other times you don't and still go somewhere amazing. Another friend is starting at UCSB this year, he and I both applied to Berkeley and he didn't get in. Again, we both deserved it, had similar credentials, etc. But he's clearly really excited and it doesn't matter where you go as long as you love the way it feels and the program is pretty competent.