Even if it it certifies you as being part of a more elite group mostly because you all came in more elite to begin with.
Maybe Utah takes students who are mostly 6s and turns them into 8s.
But if BYU starts with mostly 8s and turns them into 9s then a degree from that school is worth more because you are viewed as a greater product.
So I guess it depends on whether you define the “value” of an education as the perceived value and marketability of the degree, or the learning experience and resources of the school.
I’ll bet a majority of both BYU and Utah grads would the prefer the experience they got.