I'm going to be going to a TTT school so this is nothing against T3/4 schools in general. Unfortunately, there are some schools (Cooley, Liberty, The People's College) that deserve to be made of fun of a little bit.
However most schools don't fall into that category; the fact of the matter is just because you wouldn't go to school that doesn't mean a school doesn't have a good reason for existing or that it is in some way failing it's students. As I think was alluded to earlier many T3-T4 schools are in geographically limiting areas(I.E The Dakotas, Wyoming, Montana, Idaho).
All that said, you probably should generally go to a top school if you can get into one. Sure, going to a top school doesn't guarantee anything but it hedges your bets.