[crote]

The issue is that this leads to the Harvard label being misused as an indication of skill or capability. You see, suddenly those princes aren't being hired because they are a prince - no, it is because they went to Harvard so obviously they must be very smart and capable. It'd be a lot harder to justify that hiring when they went to Random Mediocre State University instead.

I agree that it is beneficial to the lucky few "low-class" people who manage to get into Harvard, but that's at the cost of eroding the concept of meritocracy for all those who don't.