Sure, I'm not really arguing that all medical schools have sterling reputations or high standards, just that the joke, as a way to illustrate the problem, unfortunately obscures the real problem. It's pithy and punchy, which makes it good joke and easy to repeat. It's sort of a peeve of mine when I see well intentioned but slightly misleading memes propagate. They're hard to fight for the same reason they are memes.
(Yes, many of the offshore medical schools are LCME-accredited and legit, and have trained some fantastic physicians, but broadly speaking, they're taking people who couldn't get into an on-shore school.)