It's kind of bogus. There's more reasons than what you're listing - and some help the author's statements. For starters, why throw a résumé away because it doesn't have [Top-Tier CS Program] listed? Make the potential employee pool bigger, and statistics says you'll get better candidates thrown in the mix as well. For companies that emphasize innovation and thinking out of the box, they really want a cookie cutter mold of a person who is insane at implementing a cache with linked lists. Why? There's no wonder why a lot of creativity in SV seems to have stagnated (or gone social really).

I'm just saying take the polarized glasses off and you might see more stars.