Yichus is (unfortunately) important when you want to get your child into the school of your choice.
“my Rebbe in Israel always used to say “If you can’t explain it, it means you don’t fully understand it”
I had a Rebbe who said the same thing, although he was in NY State 🙂
He also used to say (and probably still does – and am probably giving away the Rebbe) Zeh Hachaim, Hachaim lo picnic.