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There is a difference. It will be much easier to get an offer from a top employer from M7 as opposed to T15. Also keep in mind that you goals might change, meaning that M7 is a good insurance policy.
Mentor
You can get into probably 90% of the same banks from T15 vs M7, I think the difference occurs in the quality of your cohort and the long term network.
It does for the purpose of network and brand recognition beyond your IB recruiting. Also even though those have strong IB recruiting, would argue that some M7 have stronger roots in stronger groups of the some banks (Booth, Wharton, CBS)
Subject Expert
If you want IB and you put in the effort, you’ll land it. There are some highly selective firms (Elite Boutiques) that may not recruit at T15.
Subject Expert
Smaller independent shops that punch way above their weight and compete against the large bulge bracket banks for deals - Evercore, Moelis, PJT, Centerview, etc.