I don't think so? I think I'm just surfacing the implication. Perhaps I'm wrong, but it appears like the pretty clear implication of defending Harvard and elite schools is to believe that the rest of us should remain in a lower social caste, forever, and that we deserve it because of meritocracy.
I have very little direct experience with Harvard but do have a lot of experience with grads from other East Coast Ivies and related schools--other liberal arts colleges, seven sisters--and have rarely encountered that type of school-centric snobbery except maybe in jest or football rivalry.