Ignore this person, they don't know what they are talking about.
For better or worse, the 'elite' schools have money. That means they can hire teaching-track professors. These are professors whose sole job is to teach and advise (i.e., they don't spend all their time doing research). And they do a really good job at it. Much better than overworked professor that is more focused about research and grants.
Edit: People are conflating "teaching" versus "research" professors, so I want to provide an example:
https://en.wikipedia.org/wiki/CS50
This course is taught by David Malan. He has dedicated a lot of his life to this course to make it be awesome. The reason why he can do this is because he is a teaching professor. If you look at his CV, you will see that he does not have any PhD students. His main job is to teach undergrads at Harvard and he can put more of his time to it than a professor that has to also worry about research. He doesn't bring the university as much money because he's not writing research grants, but they can still afford to keep him around. This is the point that I was trying to make.