I agree - network effects predate the internet after all. As long as good universities keep producing talented graduates it will be hard to undermine their reputation. And I don't think ambitious people being driven towards certain universities for clout is a negative. I say this as someone who went to an increasingly recognized yet still underdog state school. Maybe instead of discarding MIT's reputation a nudge in the direction of increasing editorial oversight can suffice. Though sensationalism seems to be a prerequisite for visibility these days