Have you ever been around a group of people when someone states that they go to Harvard, Yale, or Princeton? Most people (in my experience) nearly **** their pants when they hear this. My brother goes to Yale, and every time I hear him tell someone about this (only after they ask, he is quite modest), he gets some kind of reply like, "Oh, Genius in the house!" or, "Wow, you must be really smart!"
While name recognition may not be impressive to some people, to others, it means everything. Harvard is the one medical school that is known by everyone, and I do really mean everyone. The same dude who knows nothing about Johns Hopkins, Wash U, Columbia, or Mayo is the same dude that has mad respect for Harvard. So props to Harvard and its students - it may not be for you, but you have to respect it.