Agreed!And then there are the missing ones. The ones who would relish the opportunity but who can't afford to be there or they don't know the right people or they are not born of that world. It's my opinion that the type you describe should be thrown out and the opportunity (which is golden let's face it) given to the more deserving. It's survival of the richest though of course so that would never happen...
Of course the real insult is that even those types you describe will probably end up walking out with a 2:2/2:1 which will still carry weight coming from a top university and having the right sort of contacts on the other side. Straight into a good job to perpetuate the cycle!