Well, I think what's more likely is these people will be fine since most jobs are obtained primarily based on prestige and connections, and keeping an elite job once you have it just requires minimal competence. The more elite your job, the less you are punished when you fail (CEOs, for example, get bonuses when they fail). The people who are in for a rude awakening are those that think working hard and being very smart at a decent school will get them anything close to what C students from ivies waltz into without trying once they hit the working world. Remember, the C business students are the boss, A engineering students are the employees is the general rule of thumb.