Firstly, forgive me if I don't take the professor's experiment as a grand example of socialist failings. It has so many fundamental flaws (not least when referring to what should ostensibly be a communist system as 'socialist') in its basic understanding of what communism is actually about that bothering to use it to illustrate anything is a waste of time.
Though, to be honest, that nebulous analogy could be easily reversed to explain classical free-market capitalism as well.
A professor teaching a two-term course hires a large lecture hall. He randomly selects four or five students and puts them at the front of the class. He then sits everyone else increasing distances away from him, with the vast majority of the class seated at the very end of the hall. He forbids people to move from their seats.
He then whispers the answers to the first test in a voice just loud enough for the front few students to hear, before handing everyone the test and walking away.
He comes back and finds, somewhat inevitably, that the randomly selected ones in the front who heard what he said did much better than the ones at the back. He then laughs and fails everyone sitting behind the first few students, explaining that if only they worked harder to hear what he had to say they'd have done better.
He then hands the answers for the rest of the term's exams to the front row of students, explaining that they were 'strivers' and 'knowledge seekers', and thus deserved to be rewarded for their efforts, while castigating the ones further back as 'shirkers' and lazy, idle failures too uninterested to dig themselves out of the academic hole they are in. Finally, he implements an examination system that gives the people in the front (excluding the randomly selected 'strivers', who already have the exam answers) easy exams, the people behind them moderately tough exams, and the ones at the very back (Again, the majority) brutally hard exams.
He then lectures for the rest of the term in a whisper just loud enough to be heard by the front few rows.
At the end of the term, he checks the grades of everyone in class after they've gone through his implemented exam system. The ones with high grades are allowed to move to the front for the second term, and the ones with low grades are moved further back. He finds that most of the people with high grades are the people who were in front anyway, and most of the people in the back were the people who were in the back all along. He then explains that capitalism works by concentrating all the wealth and power in the hands of a very small segment of the population while forcing the vast majority of people to work long, hard hours for relatively tiny amounts of money and with little to no prospect of ever moving up because of the manifold inherent disadvantages stacked against them. Those that are in front, stay in front, and those at the back, stay in the back producing profits for the front.
There, capitalism in a nutshell.
And if you think there are inaccuracies in that analogy, then I can only reply that they are no greater than the massive inaccuracies contained within the Texas university analogy.