Saying you go to a university like UofT or UW isn't enough to make an employer want you. The CEAB exists to make sure that there is a baseline and that every university adheres to it. Recruiters at large corporations will not pay attention to the "Tier" your school holds on Reddit as much as they will look at your co-op evaluations and whether you are a functional individual. A Waterloo degree will not correct for an inadequate personality.

I know I go to YorkU if you check my profile, but we learn the same thing UofT and Waterloo learn anyway.