Thanks for the explanation. Yeah, I absolutely agree that as a society we should stop placing so much emphasis on "prestigious" schools and using that as such a strong filter.

That being said, you could say that recruiters might "miss out on excellent engineers by not visiting _____", where the blank is any one of thousands of schools in the US. In this particular case, it seems like an instance of "Nobody ever got fired for buying IBM" – in general, a recruiter is just gonna look better if they recruit talent from top-rated school than from lower rated ones.

To me, the solution is to stop recruiting on college campuses in general if the job in question doesn't actually require a degree in order to perform it.