Right-- and look at who is considered "faculty" in the first place. A school with a 10:1 ratio doesn't look so good when 75% of their faculty are part-time adjuncts without campus offices, research programs or advisees, KWIM?

Here's a tongue in cheek analysis of what it takes (as of 2013) to get into an Ivy:


While this is obviously being played up for snark value, the data is there to back each assertion, too. Unfortunately.

Schrödinger's cat walks into a bar. And doesn't.