Then I transferred to a well-recognized research-centric university, and I have to say, those first-year undergrads had it rough in huge classes with grad students doing most of the teaching. On the other hand, this 'second tier' school had upper-level math and science classes and I got to work in actual research labs with tons of cutting-edge equipment. There were some questionable researchers for sure (borderline frauds), but the majority were top-notch and dedicated to doing good science.
When looking around for a grad school I actually went to one of the 'top elite schools' to check it out - the labs were absolute crap at the one I went to, and the overall snooty attitude was even worse (I don't think they even like grad students at those places, they're more for undergrads). I turned down that offer, and never regretted it.
China's technological boom isn't being fueled by British-style elite schools for the posh to rub elbows at. They're more along the lines of MIT and Caltech from what I understand:
https://www.scmp.com/news/china/society/article/2140178/new-...
America is going the way of Britain in the late 19th century and early 20th with its class divide, and the elite schools are a good example of why that's a bad idea. We need more MITs and Caltechs, not more Harvards and Yales.