It’s not just Kelley. Even Harvard and Wharton have competitive finance and consulting clubs for undergraduates. It’s just the way things have gone post-covid, when companies in certain industries (mostly the so-called “prestigious” ones, like IB and MBB Consulting etc.) have shifted their recruiting timelines to hire sophomores, which is why these clubs have grown in prominence.
Have to note that these clubs only matter for a VERY small amount of students; those that want Investment Banking AT NYC/Chicago AT Goldman/JPMorgan/Moelis etc. that pay 200k off the bat (while working 90 hours a week and dying). For Corporate Finance at P&G or Audit at EY, or basically any other job out of college, all these frats and workshops and honors programs are ‘nice-to-haves’ but not necessary at all.
There was a long thread a couple years ago on the topic here: "Competitive clubs" in colleges