Every university in ACC, SEC, BIG 10, PAC 12 is going to attract top notch students in one way or another. Just because some kid at GT is not attracted to an academic program somewhere else does not invalidate that program, believe it or not.
GT does indeed have a very big problem if what the athletic program has contributed to the school over the years is not appreciated. It simply shows that nerd, ingrates on the Hill are so smart that they are absurdly stupid. A $ amount of value and good will can not be given to how much a good athletic program contributes to a school.
Are kids really attracted to going to bama (or any other school) without their sports teams? Of course they are. It is stupid and arrogant to assume otherwise.
Reasons would include legacies, location, size of student body, certain program offerings (I know you can not believe that people might have an interest outside of engineering), friends already there, being close or far away from mom & dad. Too many to list.