A look at the cross-section of students in IIT gives has two distinct category of people (1) Those who are in CS/Elec and are preparing to fly to USA by the next flight for so-called "research" (Am not contesting the fact that there are amzingly wonderful researchers who happen to be IITians) (2)Those who are not in these two elite departments and are willing to take any cheap software job anywhere than to look into their own discipline.
In my opinion, to say that IITs have produced brains is a lot misleading. Infact a better statement is: "People who come out of IITs are smart and itelligent BECAUSE they have cleared the JEE. BUT, that *does not* imply that students not from IITs are less smart or intelligent".