is talent really determined by the school?

100% agree. I would add that the internet can show you how good you should be. Most top talent seems to not feel the need to do all the website portfolio/PR stuff, but still a lot of really talented people to like to share all their work.

Another factor is talent level and type of your student group. My group wasn’t overly heavy on ‘born industrial designers,’ a lot of UX and related field design talent though. Luckily the two years ahead of me in the program were, and I gleaned a lot from watching them and having a few mentors/TAs.