It sort of can; something I observed while I was still a student at a "top CS university" is that there were certain individuals (superstars) in the school that a lot of people looked up to, and whichever companies they chose to do internships at or work full-time at, everyone else would want to go there. This happened even if the company was a mostly no-name startup.

So purely from a recruiting standpoint; if this sort of phenomenon happens at an undergraduate level, I can believe that just having John Carmack on your team alone can bring more talent in, for potentially cheaper just because of increased supply.