I have an MBA from one of the top 3 programs, and I see a lot of evidence to support this, but I disagree that it's a lack of conviction.

I came from a diff't background than most of my classmates, but the sense I got was that, for a lot of them, life was a series of clearly defined competitions & steps. I took to calling it the Gilded Pipeline, but in general, it was ivy undergrad -> banking/consulting -> private equity -> MBA -> ???.

The '???' triggered a surprising # of identity crises. A lot of people felt they'd had a clear way ahead their entire lives, and now there was no clear goal in the horizon.

Most of them had strong convictions--from community work to personal beliefs to long-term goals--at least as strong as the general pop., I'd argue. But give anyone $100k of student debt & the promise of exit options galore, and I'd wager most would take the 'last big thing.'