These came from a certain point in time, so I think things have changed, and so you might be right.
When I was younger I had lots of spare time to code, as I didn't have much of a life outside coding. As I've aged I've got involved with outside communities and coding in my spare time is not as attractive given my other priorities.
Still, we want people passionate about software.
Obviously we want 'smart' people, but my experience has grown i've found smartness is difficult to judge. Someone might appear bright and intelligent yet not have the capability. Quiet people who have difficulty face to face can shine.
The point about University isn't that people who go there are not smart, just that those really passionate about technology would have been involved prior to University.
The common thread here is passion; picking people who care. There are capable, intelligent people around who just don't care, and who treat development as just a job. They may actually be perfectly adequate in a functional sense, but this wasn't about finding adequate.
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