I think this subject has been rinsed dry to death. However my two pence.
Uni rankings matter only depending on what you actually want to do in life;
1. Something like Medicine, Dentistry, Pharmacy, Optom etc does not matter where you graduated from as the courses are regulated by the body for standardisation.
2. However if you want to do investment banking, strategy consulting, asset management, private equity ( basically highflying London professions) then it is a well known fact that they only recruit from Oxbridge, LSE, Imperial and maybe Durham/Bristol in rare cases.Even Law is something interesting; if you want to land a TC from a well known firm then again the mentioned unis and RG unis are your best bet. I am not sure about what the criteria is for someone being an injury claims solicitor in a small town like Huddersfield for example.
3. If you want to apply to generic graduate schemes like Civil service or the Big 4 for example then it doesnt matter where you went to Uni ( you might need to have a specific subject in some cases but thats about it). I went to a Uni ranked 60-70 and now doing a Graduate scheme in the Big 4 after doing Pharmacy.
So to all arguing if it is worth it, make your mind up by thinking critically. A lot of students pointlessly go to uni to do a degree they enjoy ( nothing wrong with that on paper) but they are left unemployed with massive student loans purely because they are unemployable due to lack of technical skills/work experience. The lower ranked uni's are making money off these people by offering less rigorous degrees which in most cases do not lead to much UNLESS the student themselves are proactive about advancing their careers.