If a job application has a text box to gather where you went to school, the managers/culture has some elitism or inferiority complex where they think the only intelligence exists at ivy leagues. Alternatively, it could be a warning that the founders have never hired engineers before (e.g. former researchers), and they think academic credentials actually have a huge impact on engineering productivity.
If a company culture description aggressively name drops big tech companies that their founders/employees came from, again this is a red flag that the founders think big tech magically makes people better engineers or the recruitment filters at big tech are magically able to identify great engineers through aggressive leetcode.
