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I worked at Amazon and I didn't meet a single person in the L4-L6 engineering set that went to an Ivy or other top school (except for one or two that went to CMU). The rest went to state schools including myself.

Now I'm at a somewhat well regarded startup and most of the people around me went to Cal States, Arizona State, or UC's.

flagship state schools are in that "tier-1 public" category. We're talking Berkeley/UCLA, UT Austin, A&M, UVA, Georgia Tech, etc. etc. etc.

Similar to banking, I doubt FAANG doesn’t filter out apps by school to save time. Another confounded being FAANG now also naturally attracts the preftige chasers

From my experience the best people are usually state school undergrad (e.g., Berkeley / UIUC / UNC / UW / GTech) plus selective grad school (Harvard / Stanford / MIT / CMU). At the graduate level those schools are much more meritocratic and it's usually a better indicator of ability. Plus doing well at one of those undergrads is actually really hard.