Networking is a way to maximize your optionality. If you limit your network you limit your potential options. Rich kids have more options and there’s absolutely zero downside to being exposed to some of them. (Don’t confuse with actually exercising them when they appear, I’m just talking about having them.)

That depends who you are. You want to be surrounded by kids who have assets you don't. If you're there on an academic scholarship, you want rich contacts. If you're there on family prestige, you want capable contacts.

If you're there on a need-based scholarship, you need both kinds, but neither of them need you.