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I wouldn't go that far, but in most cases they have never stood out as extraordinary in my experience. That isn't to say that many aren't extraordinary, but I imagine those who are end up in academia or something.

I don't have a problem with their ability. But most of them won't shut up about MIT. But who can blame them? MIT has waaaay better marketing then any of its competitors. Of course it's students will have bought into their own propaganda.

For what it's worth I've worked with several and they were great.