People will always have an unconscious bias, so I doubt you child will not miss out on the kudos and positive associations that comes with going to Cambridge. I have no doubt she has worked extremely hard to get there and very well done to her.
However the general consensus around Oxbridge is being influenced increasingly by the acknowledgement of privilege, some will have a negative perspective towards Oxbridge graduates on this basis. Of course this must feel really unfair if your daughter is not one of those who have benefited from the same privilege others have!
University places are so sought after that many are of the opinion that league tables etc. carry less weight now as allocations can seem pretty arbitrary when there are 30 plus applicants for a single place, in a very flawed UCAS system.
Students are increasingly taking into consideration other factors beside league tables. Fees are extortionate and the cost of living is very high, so many will chose local universities to rescue their costs for example, some will chose universities with particular social or sports opportunities etc.
Some degrees translate directly to careers eg nursing or architecture, but there are many (perhaps the majority) which don't have a direct career path and therefore having a degree doesn't necessary prepare a graduate for a specific job as much as actual work experience. Many employers will favour a candidate with work experience over someone with a 'better' degree.
The Oxbridge experience is certainly quite unique so this is something to be considered. It's also not for everyone. There is nothing wrong with wanting to go to a metropolitan if the experience appeals, bright and gifted people tend to do well regardless.