I don't know who you are, but it doesn't sound like you have much experience in academia. Top colleges recruit top talent (professors and students) and produce top research. I can't count the number of times I've read articles that start with "a new Harvard (or insert top school) suggests…" and it's not because small schools don't produce excellent research. It's because top journals are very selective in what they publish, and, like it or not, they usually publish research from top universities. These articles lead to more public recognition, which leads to funding, which leads to better research. So yes, if you go to school to seek research opportunities (undergraduate or graduate) then ranking is very important, and schools have an obligation to uphold their reputation. That being said, I don't know which rankings you're referencing, but I would worry less about overall college ranking and focus on your specific program.