If being in silicon valley is important to mix with the best and brightest then being in a good university deserves the same argument/conclusion. Any old university won't have students capable of learning at fast pace and so the curriculum will be watered down. Any old university won't have high quality teachers that can mentor the most gifted students.
I do think taking that last exam and finishing university was a magical moment. Following a commitment through to the end even when things are tough or tedious is valuable experience. You can get this other ways but there is a huge difference between someone who stuck in there and finished university and someone who called it off just three credits short.