I have no problem believing that there is bias and systemic issues in tech hiring. But you're right, looking at the school rankings shows some problems in the logic.
"Hooli didn't treat a low ranked school as well as they did an extremely high ranked school, must be racism."
It's more about false pretenses, and thereby racism (or, at best, massive negligence and lack of self awareness)
I could agree that more recruiting resources should be dedicated towards higher ranking schools, but food scraps and half-hearted presentations just for PR points falls wayyy below just "lower resources".
Would you rather just not have a company show up, or have a recruiter essentially treat you like a dog?
Note that the article mentions they did drive two hours each way (!!) to give the presentation. Surely that's better than "essentially treat you like a dog."
"Hooli didn't treat a low ranked school as well as they did an extremely high ranked school, must be racism."