MIT has a ~95% graduation rate, so most students really do graduate. And for the 5% that don't it's unclear how many dropped out due to the workload vs dropped out to found a company, etc. MIT has tons of internal resources to help you if you're struggling.
The shock for entering freshman is very real. I really like the practice of making your first semester Pass/No Record so that there's less pressure to try and get an A, and if you do fail it won't even be on your transcript. Second semester still treats F as No Record as well.
There's a certain subtle ego disorder that creeps up on you slowly when you're used to regularly being introduced as the smartest person someone has met, and you let that slowly become part of your identity. The people I knew who failed out had too big of an ego to seek help, and even were afraid to work too hard, because that made them feel less smart. They didn't outright brag, but were used to others doing their bragging for them, and had a kind of false modesty about them.
The shock for entering freshman is very real. I really like the practice of making your first semester Pass/No Record so that there's less pressure to try and get an A, and if you do fail it won't even be on your transcript. Second semester still treats F as No Record as well.