I went to college in the U.S. and I am a member of ΔΣΠ which is a pro business frat. That's huge different than the social frats, the communities in tv's story talking about. I was kinda regret for losing my chances to rush into a social frat, but at least i could imagine that life when i watching this tv series.
I'm pretty sure all the stories happen in the series are totally true, coz those stuff are the same as i heard from my school. in fact, the reality is even more serious and cruel. Although, sometimes, those social frats guys look like too naive and fool, but they are doing much more meaningful things than others' thoughts. They are not only party, drinking, smoking or dating, they do team jobs, hold big events, figure out issues or something else. All the works they've done is not about the results, it is about building up trusts and firming friendship. The point is processing, how they make it out.
Greek life means a lot for their life. if you were a member, the brotherhood or sisterhood would be the most important relationships in your life except God and your spouse. I can imagine that feeling of the bros is over than your real bros, even though i'm in a single-child family. All the individuals who been to the same house, they were gonna connect each other until they all passed away with their legacy.