it's very true!!

In some cases, a hiring manager may feel a UCSD CS graduate would be easier to manage and have more realistic expectations than a Princeton graduate if their interview performances are compatible.  Not saying it's always like that, but I did see that happened before.  There are so many places or levels one may start a CS professsion, and the judgment to a person's performance is much more objective (based on experience) than many other fields. 

When it comes to acquiring VC funds, starting up companies, etc. a person's temperament, business sense, communication skills bear more weight toward the success.  One's college network may assist to get closer to the door, but whether to sell the story/product to investors depends on what's way beyond where you graduated!