I think you are making a fantastic point about what we would hope students would get out of a good college. And it doesn't need to be a big research university, or a top 10 college. The goal is to learn how to critically think, and while working with brilliant people can help with that, so can working with smart, intellectually curious people in a safe environment. In fact it is likely much better in most ways, because while the 'piece of paper' may be perceived to be worth less, the critical thinking skills are what pay back for decades into a professional career.