Better by what metric? It has not been my experience that instructional quality is in any way correlated with budget or prestige.
> Your random college probably can't afford a research nuclear reactor, but MIT sure as hell can if they want.
Idaho State has a research reactor. As does Kansas State, Missouri S&T, NC State, Ohio State, Oregon State, Penn State, Purdue, Reed College, Texas A&M, Cal-Davis and Cal-Irvine, Florida, Maryland, UMass, Missouri, New Mexico, Texas, Utah, Wisconsin and Washington State.
You don't have to go to MIT to get onto good research projects in that field. And that's true of every field.
MIT is also a bad example because as the sister comment points out they don't have legacy or athletic admissions.