Q:

usage of "renowned"

Cambridge Dictionary gives this definition about "renowned"

famous for something

Cambridge Dictionary also gives these examples

The region is renowned for its outstanding natural beauty.
Marco Polo is a renowned explorer/is renowned as an explorer.

I guess I understand all the content above. Could some help to double check the use in the following sentences?

Cambridge, Massachusetts is renowned as the home of Harvard University and the Massachusetts Institute of Technology (MIT)
Cambridge, Massachusetts is renowned for Harvard University and the Massachusetts Institute of Technology (MIT)

I am aware that they are different situations which need different prepositions, though I cannot state the rules out clearly.
Could someone please give a hint about the rules/conventions of it? Thanks in advance.

A:

The phrase "renowned as" requires equating the subject and predicate.
Cambridge is famous because it is the home...
So, Cambridge = home
The phrase "renowned for" means "famous because of".
Cambridge is famous because of Harvard etc.  
It's a structurally different way of saying the same thing.

