Despite widening income disparities, a middle and upper-middle class still exists. Being able to spend $50k a year is not the same as being able to spend $50k without feeling any burden from the opportunity cost of that decision. And even if you are very wealthy, I don’t understand why a financially prudent ROI calculation isn’t worth doing.
I might modify your list of elite schools slightly, but overall I agree. Those of us who live in states without excellent public universities have a slightly more difficult position, but there are still merit scholarships available OOS at some fine schools.</p>