Munk - it makes sense. Depends on the program, the professors, the students, and location of the school.
Having friends in several different types of programs, this is what I find, at least for myself and imagining myself in other programs:
Being in a small school with a good program allowed me to be on stage more. Yes, we have other performance opportunities too, but in addition I am in mainstage shows. Chorus roles, supporting roles, and leading roles. In addition, other production roles that aren't acting. My resume is quite impressive, and through SETC, I have had many surprised faces from professional theatre companies. "You did all this AND you're a FRESHMAN??"
The resume is jam-packed. So what? How does this apply to your training and career?
Its allowed me to get the mainstage experience I need. I learn from each one and grow quicker than other students in other programs, I have found. As a Junior, I will be doing Graduate level work.
I don't think my school's program is better than Marymount Manhattan College, but I do think my training is as good, or better. The bonus is all the experience I will already have.
"The Spectacle has, indeed, an emotional attraction of its own, but, of all the parts, it is the least artistic, and connected least with the art of poetry. For the power of Tragedy, we may be sure, is felt even apart from representation and actors. Besides, the production of spectacular effects depends more on the art of the stage machinist than on that of the poet."
--Aristotle