Most "top" universities receive their ranking for the quality of the research they produce, not quality of undergraduate education. There is likely a decent correlation between research output and undergraduate education, which one can determine by looking at schools that have some of the highest achieving undergrads (such as MIT, Harvard, Stanford) and noting that these schools also are major research centers. Note there are most certainly exceptions to this, ie schools without a ton of research output but with great education for undergrads (I'm thinking of Reed College here, but no evidence/just my perception) or universities that don't do much with undergrads but are major research centers.
However, I'd mostly like to address the fallacy of attributing the high international rankings of American universities to the high undergraduate tuition. At Caltech, I've heard many undergrads say that all undergrad tution is about 5% of Caltech's budget, with a lot of the rest coming from various research grants. At schools with less of a research focus and more undergrads, undergrad tuition might make 30% of the budget. I can't find the blog post at the moment, but there was a discussion a few years ago about what would happen if MIT gave a full scholarship to all attending undergrads, and the conclusion was that it would hurt (but not cripple) MIT financially, but appeared possible.