That not true at all. The name of the university can only get you so far. For example, if you have a climate-related degree, can you really compete with Stanford CS majors for a SDE job? Or with ME majors for a product design position?
IMO if you get into Stanford and can pay for the degree, it would be a waste to spend it in a major like that unless you're really passionate and have very specific goals.
"So, basically, investment banking or data science"
Well, those are definitely not "whatever you want".