Ivy League schools will typically have more competition for positions on staff. The competition is mostly about prestige, but also about a paycheck. Capitalism dictates that the best product be the highest priced. If the Ivy League schools are the highest priced, the inverse is true and they are the best staff available on the market. Whether this is true is debatable, but that is the theory.
Ivy League school graduates earn more money and more prestige in their fields than others do. Ivy League schools have been around longer and have more financial backing in order to do more for their students. Although Ivy League universities aren't everything, a vast majority of modern U.S. presidents have graduated from one of these institutions.
No, Ivy League schools should not be revered above all others in the United States for their educational prowess, because they do not provide a better education than other schools do. Those who attend Ivy League schools are a self-selecting group of people who are already very bright to begin with.
No, these schools are not much better at getting a good education to people than any of the other schools that are in the nation today. I think that they are good schools for sure, but are not any better that any of the others that we have as of today.
While Ivy League schools are exclusive and attended by some of the highest intellectuals I don't think the Ivy League system is necessarily the most intelligent network around, there are thousands of colleges and universities around the country many of which probably have more intelligent and competent people in them then Ivy League Schools.