I agree with the advice to ask to speak to a current honors student at the school.
At my D’s school there were companies that only recruited students from honors, especially first year. There were also internship opportunities within the honors college.
Priority registration, special housing, honors specific study abroad, guaranteed research, specialty advising, and leadership opportunities can also be features of an honors program. At my D’s school the required honors seminars covered a wide range of topics so there was something for everyone. After first year you could also make nearly any class count for honors credit by doing an extra project or giving a presentation.
IMO it’s worth doing a deeper dive.