Our city has a school choice program that includes a portal where you can look up these kinds of quantitative measures, and I think I agree with him. Tiger parents slosh from school to school as they chase after rankings, and, much like ill-contained liquid cargo in ships, all that motion tends to destabilize and capsize schools.
Sadly, I don't think smaller higher education institutions can afford to take such a relaxed attitude about it. They don't get to have an enrollment backstop in the form of a semi-captive audience of parents who live nearby and aren't hyperactive enough to commit to spending upwards of an hour every weekday trucking their kids back and forth across town.