I value those who commit and give it their all - because you really do know these people are trying to get their best possible results. Sure, being smarter is a great trait to have... having an intellectual conversation every now and then saves my life from some of the drugged out drab school chatter all the time in my school.
For the HSC, it depends what you want from it. What you bring to the table, in my opinion, is what you'll get out. There are always going to be lazy arse people who are naturally talented (I have 2 in my classes)... but I work a fair bit harder than them and now I beat them because I want the best possible results.
There will always be someone better and smarter than you in every way... that will be a fact of life. It's always good to know that smarts aren't going to get you through life. They will help you get a job, but they won't help you manage the house, iron and wash up, socialise with people at meetings etc.
Personally, I'd rather be around those who give it their all, and even though their results may not be extremely pleasing, it beats being around arrogant smartarses who play video games their life and smash their academia because of their brilliant memory retension because of their night before study.