Look at who gets them and their social status - the worst MBAs I’ve dealt with came from money, went to expensive schools, but … weren’t exactly going to knuckle down for med school or becoming a PE. The MBA was a way to add plausible deniability to the idea that the question of whose opinion matters usually comes down to class.

(One notable exception: Scots-Irish guy from a very modest background - unsurprisingly, he worked harder than anyone else I’ve met and took care of the staff)