>>My point is that for someone who could have gotten into Stanford, the actual admission it isn't defining. Someone with that sort of intelligence and drive will find a way to meet the future CEO, get a great job and so on regardless of whether they attend.

Maybe, but getting into an elite college is a very strong signal that can act as a multiplier for every other character trait.

Having drive and intelligence is great. Having drive and intelligence, and getting into Stanford, is life-changing.