There would also be value in getting a great job as a top-tier-school dropout ("intern who just loves this place and how fast everything is progressing, seems like a shame I have to go to school in September, but I'll keep in touch" "Now that I'm at school every day I miss..." "can you come back and start monday?")
I think you get an overall superior package from dropping out and doing 20 under 20, joining a top company, or doing other stuff at a top level (even if it fails) than from universities today -- particularly as universities have gotten dramatically worse over the past 30 years (and especially past 5 years), and the requirement for a degree doesn't really exist (absent immigration pathways) in cs/tech.
I'd take "my YC friends" over "my college friends" overall, too.
This all assumes a highly motivated and self directed student. I don't think university really saves "I don't know what I want to do, my parents are telling me to go to Harvard so I will"; IMO if you're 16-18 and have no idea what kind of things you enjoy you've already failed/been failed.