Having researched many schools and done the MBA myself, I don't think I can agree in saying that an MBA is an MBA is an MBA.Part of the problem these days in the saturated MBA market is that the quality of the programs seems to vary significantly among the schools that aren't in, say, the top 30 - 40 schools. Ultimately the quality of the students coming out (in terms of their education) can be unpredictable.I've met so-called MBAs from other schools that I'd never heard of and they didn't know the difference between a credit and a debit. Likewise, you won't find many of the big companies recruiting at some of these places because of their reputation. Yes, part of this has to do with the school's name - but if it is a good school with good output and a good program, it's reputation will build.
In law school while students may at least joke about the material or make casual references to what they thought about a case or something like that, no one in business school gives a flying f*&% about the material. You won't hear passionate comments about whether ROA or ROE are better calculations.