I think this is an important fit factor that students and families don’t think about enough. For some kids, the challenge of those high achieving peers is a huge benefit and just what they need. That said, for some others, there may be more benefit to going somewhere where they will be near the top instead of middle to bottom of the pack. It can do wonders for a kid who has been at an intense school and struggling to stand out to suddenly be somewhere where they are seen as highly capable. It can up confidence, give more opportunities, etc.
These things are so individual, and not one size fits all. And rankings cannot answer this question for a family or student.