It depends on many factors from what I've seen. The quality of education will differ due to what each school is good at, the profs you happen to get, and many things. However, big universities do provide you with better networks and platforms. And the fact that it takes a lot more to get in and graduate is a proof of ability in itself, so it looks better on resumes. For example, among candidates with the same level of experience and education, the one from a more prestigious institution will be more likely to be picked.
I know that for me, I got hired really quickly in my work because they saw my uni and that was just it. And later, it helped me get more work too because it's a good promotion label in a way.
I do have mixed thoughts on the topic because these big unis can be pretty cutthroat and pricey. They certainly have their flaws, the system is far from perfect. But the benefits are very much there too.
Sorry for the long rant LOL, I'm a bit sensitive on this topic because I've spent a long time having people disparage uni degrees and being made to feel like I couldn't be totally proud of my education without disclaimers
