A relatively high proportion of students at elite schools will be in the top 1% of the IQ distribution (and the same is probably true of HN contributors), but I don't think you have to interpret this literally for GP's post to be clear. Intellect, like driving skill, can be measured along enough axes that more than 1% can be in the top 1%.
How are you measuring this? Are you equating being at an elite institution or have a (currently) rare and valuable skillset with intellect?
And/or are you reducing 'intellect' in this post to only mean logical/mathematical prowess?