The bell curve or any other means of measurement merely serves a purpose.

It does not equate quality. If the sample is "weak", its more ridiculous though you still get the "best of the best".

That is why nowadays, many people subscribe to the fact that any degree is good enough to secure a job opening and the rest depends on how good you are at your work. This assumption is NOT correct.

In the earlier days, if you are an engineering graduate from UM, your employer can be assured that you are a performer and can deliver. Can we say the same thing today.

Compare with MIT then and now, any liberal arts graduate will perform whether you train them to be a lawyer, accountant, investment banker etc.