I completely agree.

I was considering a MBA several years ago. My friend made the statement: MBA is about brand recognition. Since you want to be local, go to only MIT or Harvard, otherwise just start your company.

Apparently Jack Welch made a similar comment when speaking to Sloan students a couple years back that angered the dean. When asked which courses to take, Welch replied (paraphrased), "it doesn't matter. this is a country club. network. That is value you are being provided."