Mick, you have bought in to the fantasy of what Oxford is supposed to be like. Have you even visited it? You don't see C S Lewis and Tolkien sipping ale in a smoke filled pub you know. And you see mostly nondescript students - they don't try hard to look nice during the day. They probably feel that they don't need to - their potential partners are Oxford students. They think that they have it made. They mostly lack even that loosely entertaining sense of 'rahness' that might make going to those universities like Durham a little bit interesting.
And the buildings... photos make Oxford look like it is dominated by honey coloured, ivy crept colleges. But Oxford doesn't actually feel like that at all. Most of the colleges have a very similar appearance to them which makes it a duller experience than visiting Cambridge colleges. Basically, a typical Oxford college looks like a blueprint for every redbrick university that came along perhaps centuries later - except for the Bodelian library and the Hertford Bridge which looks like some badly fitting pastiche of Vienna. (By comparison, a typical Cambridge college might look like a castle, stately home or cathedral with some exceptional exterior detail). To be fair, Oxford may have some good INTERIOR detail in places. But one of ist 'highlights is Christ Church Meadow. visit it- it's a park. No, Lewis Carroll isn't holding a Mad Hatter's Tea Party (although there are plenty of dull middle class people frequenting the Lewis Carroll shop). It's just a park. The stone that Oxford colleges are made from and the busier environment (they are mostly on non pedestrianised roads) results in some colleges having crumbled in places.
Basically the students at Oxford seem are probably just slightly more of a workshorse than other people, potentially (but not always) at the expense of a personality. Personally, I would find their quiet reticance (which I am capable of but rely on people to draw me out) to be depressing and the city itself to be as well. I'm someone who'd want to strike up a conversation about the merits of The Doors over The Beatles and I think that it could be like looking for a needle in a haystack- particularly when the said university wouldn't be interested in studying popular music as an art in its own right - and I would unfairly be looked upon as a working class person with ideas above their station unless I fit in to the cliques and academic cliches that being an 'Oxbridge mind' requires.