Yes. The value of open competition in colleges and universities across the country is massive. It gives the best and brightest students the opportunity to advance based on their academic achievements, and not based on the fact that they happen to be from a difference country or were born of a different race. The best student should get the best placement.
Open competition is healthy. This modern day thinking that everyone should be able to go to college is not right. Not everyone is cut out for college. A university that wants to have a reputation of excellent academics would naturally want to be made up of good students. A college known for football is going to want good athletes. There is nothing wrong with that. Competition benefits the students and the universities.