The prestige is gone.
I have no particular admiration nor fondness for Columbia, but the supply of spaces at brand-name colleges/universities is severally constrained relative to the demand. Personally, I’d be thrilled if Columbia’s star has fallen so far that it can’t fill its seats, but, alas, it undoubtedly can and will. There’s no shortage of families that will pay full-freight to enroll their kid at Columbia.
It left a long time ago.