My fav principle to use when thinking about that stuff goes like this: "School only matters if you ain't got nothing better to show"
All of that is better than just schoolwork.
And if you're still being asked where you graduated from 5+ years into your career ... something might be wrong. Have you really nothing better to show?
Sometimes, the fact that someone didn't go to a top-name school limited their choices. If they went to local state school far from Silicon Valley, and they didn't have money to move to the Silicon Valley right away, they may have worked at small, non-engineering-focused companies. So yeah, maybe they're really capable, but 5+ years into their careers, they haven't had the chance to demonstrate it yet.