As someone who attended Penn State (but not MIT), I would have to say that's some extremely wishful thinking. And even if the material is 100% identical, the way it's taught certainly isn't. The fact that the latter is far more important is undeniable. After all, why bother with a university at all when we could all purchase the same material (textbooks) on Amazon.com?
You also seem to ignore the fact that many tech companies are now far more interested in your personal website/portfolio and GitHub page than the degree listed on your resume. Even if you find a potential employer who values an expensive piece of paper more than your actual ability, would your really want to work for them anyway?