Goodhart's law: When a measure becomes a target, it ceases to be a good measure.

Used to be that a college degree indicated people with time, money, and drive to put four years into study. It was a good measure of the "right" kind of person. Now it's just another job requirement and doesn't indicate anything.

These selective colleges aren’t about education, they’re about getting you into a club with the other assholes that likely cheated their way through business school and got jobs the same way.

Same with private high schools in the us. They aren’t teaching kids to read, math or think, they’re teaching them that being born rich means you get to be in charge of the plebs (which includes the professors and instructors at these institutions).