I don't know where this idea comes from that FAANG excel at software engineering. Like all large corps, they're a power law distribution of capabilities, from abysmal to excellent.
Nandos make a lot of money, but I wouldn't bother applying to L'Enclume if I did my training there.
The inescapable reality is that excellence in software engineering, like restaurants, doesn't scale.
And if I studied at L'Enclume, Nandos probably wouldn't consider me, either. They're not in that market.