This is completely false. If you have the strategic insight, networking, management, and communication skills to become a director or VP at a FAANG, I promise you no one in the C-Suite is saying, "Gee I don't know, they didn't finish their bachelor's degree." People who grow into those roles do so by establishing a track record over 10+ years. At that point no one cares what they were doing when they were 21.
The people who went to MIT didn't need to spend 10+ years "establishing a track record" before getting a desirable job, people took them seriously right out of college.