Permit all the cronyism and gaming around university hiring and admissions, and don't hold universities responsible for unethical behavior of their faculty and graduates, then maybe this is what you get.
And since this is HN casting stones in glass houses: Permit all tech industry fratbro conventions around hiring (e.g., some that originated as naive and classist "did you take the same Stanford classes that I did", then were cargo-culted), and don't hold the companies responsible for the growth pump&exit investment scams, nor the criminal incompetence around infosec and correctness, then maybe that's what you get there.