There is no doubt about it. All over the planet, these names are synonyms for intelligent, accomplished and well connected. Not only you get a good education, driven peers, amazing opportunities, membership to an exclusive alumni group but a coveted social currency as well.
Is it possible to have a terrible experience there and not taking advantage of opportunities offered? Absolutely. Is it possible to be equally successful from no name colleges or local state schools? Absolutely. Only difference is that odds are heavily in favor of Ivy graduates. Obviously, major factor is Ivies picking cream of the crop. If you take out hooked ones, most students are already top 1% in whatever they do.