Actually the opposite. The university system follows pretty much the same paradigm of equality and fair quality. There really is no shitty universities (at least within the institutions which claim the label...) nor spectacular ones. You get average quality. The university rankings tend to have an apex-fallacy (we are only interested on the ones at top), whereas the primary-education studies focus on national averages.
E.g. US has some spectacular private primary education facilities and some amazing higher education. But the quality varies highly across institutions. Finland has a very few private schools and even the best ones do not really perform significantly better the worst ones. The same is apparent in higher education. You get about the same degree from any university willing to give the education.
And whereas I used to think like you guys on catering for the individuals and the talented: I'm no longer quite sure on how it should be done. I've seen a fair share of different systems and products of those systems - some of which claim to address the problem of the gifted better than others. Yeah, you could do better to give greater challenges for the gifted. But there are so much other good and useful stuff people-who-get-bored-in-math-class could be doing. If you got the capacity, usually you end up using it, despite on how you are instructed to behave. You could be doing vector-calculus on the first grade: or you could be assisting your friends with the standard calculus. You could qualify for deeper math in high-school, but you could also spend your extra-time with arts, philosophy, student activities or just living your life if you don't have to worry about your school performance.