Socializing and having fun is great. It’s the “Whooo! Hoo!” Rip off the Shirt and “Let’s PAR TAY!” that acts as the 2% filter.
For the other 98% it is a chance to meet people and potential mates, exchange ideas, be exposed to new things, and learn by example about how not to behave. I never had the urge to get rip roaring drunk after dragging my stupid roommate back to the room so he could puke his guts out. “Yay. Par-Tay.”