My regular travel in trains made me realize how B-schools in India can directly be correlated to the Indian RailWAYS.
AC I Class(The IIM-A,B,C Level) : This class is the most coveted one. Everyone wants to be in it. Many know they won't make it, so they don't even try for it. They prefer other classes. Many more try, but their pocket (read percentile) does not allow. It's the most difficult to get a ticket (admission) here, always in waiting, but once you get in, your seat (job) is 100% guaranteed, and that too a good one.
AC II Class(The JBIMS Level): While many may argue there is no much difference between I and II. given a chance, a person in II (IIFT, XLRI,etc) would always like to have an experience of I (IIM-A,B,C).
AC-III Class (The MDI level): Now this is the category of people who desperately tried for both I as well as II but didn't make it there. If you want a comfortable journey (read a good average package), this is a very good option. (S P Jain,SIBM, etc)
AC-III Economy Class -Garib Rath (IMT,IMI level): This is the last category in which a person is willing to pay more than a certain amount in order to have the basic minimum requirement for the journey- Air conditioner (read chances of a Job at a DECENT package)
SLEEPER CLASS:(The ICFAI level) If you go through the Wikipedia account of Indian Railways, it's mentioned that this class has the maximum number of coaches (colleges) and accomodates most of the passengers(students). If you walk in with a ticket (admission), you will be atleast given a job (seat). Comfort is not guaranteed , especially in summers (recession).
GENERAL CLASS: (Amity, IIPM level): Easiest to get the ticket hand to hand (read getting admission), no guarantee of seat (Job) later.
I might have missed out a few not so popular classes, but I guess I have tried to cover most of them.
Every now and then, according to the need of people, new coaches(colleges) are added and people go for them. This will continue and just as Indian Railways is in profit every year, all these B-Schools are always in profit.
The fare for upper classes(fees for top notch colleges) keeps on increasing every year, but that of the general class almost remains constant (how else will the seats get filled then).
Lastly, even if there are 10 new trains on the same route, each of them will be crowded the same way as the older ones were. Similarly, even if 10 new MBA colleges open in a month, all will get filled.
There is no absolute intention of making fun of any college, but yes this is a reality. When a student gives exams ranging from the level of MAT to CAT, appears for the admission processes of colleges under these categories, the difference becomes more evident.
Everyone has their opinions and rankings, so if you differ, it's fine. No big deal.