Cambridge still ranks higher in the WORLD than ONE country, the USA, has universities in its 'Ivy League' (8 universities). It'd be really silly to regard it as worrying news, although Oxford, which was for a long time regarded as a bit softer than Cambridge, has made up ground over the last 20 years or so.
The cliche containing some truth: Oxford's where politicians and authors dealing in OPINION go, Cambridge is where philosophers and mathematicians and poets dealing in attempts at TRUTHS go might be broadly the historical pattern. Yes, Oxford has its philosophers but they weren't as mind boggling in their complexity as Cambridge's Wittgenstein. It is a cliche, yes, Oxford has had some very notable scientists, a few poets, and Rachel Riley studied Maths there (getting a first compared to Carol Vorderman's third- which was in engineering actually). And Cambridge has had some notable politicians (if rarely prime minister in modern times) and authors.
Truth, surely, is more important than opinion in the grand scheme of things. However, Oxford makes up for it for publishing far more academic works than Cambridge. However the academic works are just as, if not, more likely to be by Cambridge graduates as Oxford ones.