No, we don’t, actually. It’s a wonderful opportunity, but the student has to take advantage of it, and many don’t. A student who takes full advantage of the resources at your average state flagship will outperform many/most Harvard grads. Success is far more about the student than the school.
That’s not to say I think Harvard is a fraud, or anything like that. Harvard is an amazing institution, and it does a pretty good job of picking can’t-miss students. So, of course they are successful. But they aren’t measurably more successful than students who, for whatever reason, turn Harvard down to go someplace significantly less prestigious, or even than students who have similar grades and test scores but lack that certain sparkle that makes the difference in Harvard admissions.
Meanwhile, there’s a question about what constitutes success, too. At my (Harvard-equivalent) 35th re-union, class stars included, yes, a Senator, an Arab Spring front-line ambassador, a couple of hedge-fund CEOs, and some medical researchers, but also a sixth-grade teacher, a church music director, the author of the best-ever advice book for girls in their early teens, and someone who had quit his job, sold his house, spent 7 years sailing around the world in a very small boat with his wife and two young daughters, and begun a new career as a teacher in a girls’ school. All of them had done really interesting things with their educations, and had a lot of job- and life-satisfaction, but not necessarily a lot of money or fame.
Also, to singleparent1’s comment on there being no “Tailgate State” among the NY Times columnists. Actually, there were a number of them. Grambling, Catholic, Marquette, BU – those are not highly selective institutions, not even close.