I have a feeling that your sensitivity for "pretty intelligent" might tuned a bit tight. Sure there are a few "massive donation" students but otherwise HSW students in particular are pretty much exclusively 99th percentile types, both "objectively" (GMAT/GRE, Undergrad Institution + GPA) and from career progression standpoints. It's surprising that you would find so many of them to be merely OK or worse, so I'm kind of curious what you're looking for when you judge people's intelligence, if you wouldn't mind sharing.