I disagree. How many NC State grads become tech luminaries? Very few. How many Stanford, Harvard, UWash, UIUC, even Cornell or Yale CS (not as highly ranked) become tech luminaries? A lot more. (FWIW, it's so hard to get into CS at UIUC/UWash today it's equivalent to getting into an Ivy).
Of course, you could always say that this is a function of inherent talent and drive more than institution, which is possible, but even then it's just a vital social signal and leaves out the 99% who could never stand a chance of getting into elite institutions like me.
I've inspired thousands to code around the world via my YouTube channel. I went to community college for business and dropped out. Some of my work is used in Universities. In addition, Google invited me to an educational convention last year. My point is... I disagree about your so called tech luminaries. Who are they and why are they so much better? Could it be the connections they have which allowed them to get into Stanford in the first place?
Being a "tech luminary" is a pretty high bar, no? Who would self-identify as this anyways?
I graduated from NC State in 2000 and I've had a really awesome, rewarding career filled with interesting problems and fun. As an engineering manager I've had many, many colleagues who have advanced degrees from fancy schools that I never could have gotten into (or afforded). I use stuff that I learned at NCSU in my job every day, and am extremely thankful to have gotten such a high quality education at such a bargain basement price (in-state tuition was very cheap, I used to put it on my credit card). I've never felt like my degree or lack of a fancy school has hindered me.
As a hiring manager, unless the person is coming directly out of school, I don't even look at their education. There's a great many people that I've hired where I had no idea if they had a degree at all, much less CS.
I don't think it's drive, talent, or the quality of the education at the institution. I think it's the contacts.
At Stanford, you get a good technical education, but you also get contacts that will become important players in tech. At Harvard, you get contacts that will be important players in government, business, and media. At Random Public University, you get contacts who become players at the state level.
Of course, you could always say that this is a function of inherent talent and drive more than institution, which is possible, but even then it's just a vital social signal and leaves out the 99% who could never stand a chance of getting into elite institutions like me.