I'm not sure why it is such a big deal if HG+ kids decide to go to {LocalPublicUni} rather than Harvard.
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Bottom line, elite schools are populated by majorities which are "elite" in the SES sense. There is a 'fit' issue here that I think is being ignored. I could have attended any one of five of those elite schools... (yes, really-- I had acceptances), but CHOSE not to do that for 'fit' reasons. I didn't want to be "that weird girl from the sticks," and a few campus visits taught me in very short order that there was a reason for high attrition among students like myself. Local Uni fit better, and was far less financially risky, to boot.
With respect to your first question, it may be because [Local Public Uni] has a greater chance of leading to complete irrelevance later in life, depending on your interests.
If you have an interests in being a craftsperson, then it's irrelevant.
So, I suppose it's good to know your area of interest.
I didn't have a meaningful choice, since, in hindsight, I wasn't going to fit either place, although I would have preferred some limited guidance with respect to dealing with people in college who were, for all intents and purposes, off their rockers.
I think that "multipotentialitiy" is generally not an issue. In life, you really only have enough time and energy to do one thing, so to speak.
