Might not be crazy to prefer someone with that ruling-class cred/connections (even if not, themselves, of that background) in certain very-lucrative sales positions. Or investing. Or law (especially the varieties that tend to pay very well). Or lobbying. Or just about any halfway-important position in a non-profit. Or the C-suite of a corporation, and more-so the bigger it is.

And so on.

Lots of cases where "oh, I sailed with her nephew one Summer when we were both at Harvard" or just being able to credibly wear any of several "in-group" school colors ties and talk the talk is worth more than 10 extra IQ points or whatever.