This is a great point. I went to a D2 school and I think it was probably the best choice for me.
I was a 1:53 800 runner out of high school. I won my division at state that year, so I had some D1,D2 and D3 schools calling. In the end I decided to go D2 since it seemed like I'd fit in best there. I was a very average XC runner (25 flat 8k, 32 min 10k), but I still got to travel and compete in every meet, and the team made it to nationals every year.
I also ended up cracking 1:50 and placing in the 800 at indoor and outdoor nationals the last few years I was there. Being able to compete for a (baby) national championship was a completely different experience than getting my a** kicked week in and week out in D1 would have been. Would I have gone a second or two faster in D1? Maybe. Would it have been worth the tradeoff? I don't think so. I wasn't going pro either way and neither will 99.99% of college runners. I also made a ton of great friends from the team.
And for academics, my classes were fine and my degree has been fine too. I majored in biochemistry, I work at a biotech firm in management, making multiple 6 figures. My best friend from the team is an advertising exec making more than I do. My roommate from freshman year just sold his international insurance business and is semi-retired at 42. If you want to go to a prestigious grad program or go to work in investment banking, then yeah, an Ivy degree will help you a lot. I'm not convinced that a degree from a D1 vs a D2 school will make much of a difference, all else being equal.
End of story, but thought that might be useful for some kids deciding on where to go to school this year.