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I will tag vansh He's best to answer this !

They give a good initial push, the best analogy is that it's like a boost in subway surfers/temple run if you are able to build momentum then you can make 10 years of progress in 5-7 years but if you're not smart/hardworking you'll be back to square 1 just like the rest of the grads

NO! Anybody who says otherwise is a fool.

The idea of IITs people have before going to IITs is wrong, it is college with better facilities and competitive peers , rest all it is same amount of hardwork to establish yourself, where you want to continue acads or go for jobs or startups. Rest all we should not think an Iitian would be lacking Street smart skills(many making good money in college itself) , or the vice versa that all of them are already the best and no one can beat them, How things gets cleared out by this.(From a Iitian)