Elite universities are supposed to advance elite science - stuff like math, physics, technology, sociology, history. They also train people for work that requires such training.
But, they dont create public education policy nor should they. They are not subject of public elections nor are they responsible for budget.
I think institutions of higher ed should serve humanity; knowledge is beneficial to all people for the sake of knowledge itself.
I am saddened that many take their intellect and direct their energy solely towards making as much money as possible.
Think of all we could do if our best and brightest weren't so damn distracted with status and money
Working at university does not bring you much money nor all that much status. And who is the best depends on your definition of the "best".
In any case "serving humanity" and "being in charge of public education, social system and economy" are massively different tasks. And the latter is currently settled through political system and activism, not through science or universities.