Lol not really, I'd still choose it. The problem is I'm just another immigrant and I dont understand the fascination with rankings here, esp when I'm surrounded by tiger parents who work their kids every day to get them into Harvard. Maybe its worth it? Its difficult to tell.
Whether or not it is worth it depends on your priorities. Based on the pedigree of many of the leading political figures and business leaders, it does seem to have a measurable impact to have passed through the leading institutions. Who you know is of course more important than what you know.
But depending high high you are aiming, it may or may not be worth the tradeoffs for you.
Honestly the majority of it is Harvard selecting who they know will be rich, famous, or both. I know a girl who got into Harvard but her parents couldn't afford to send her (this was before they ramped up their financial aid), she went to state school instead, won a Marshall Scholarship, and was a tenured professor at Harvard by her early 30s.