Is it true that being an intern is the second best position next to being a partner at a Big 4? I was told by someone who used to work at Deloitte before WFH was largely a thing, interns would get treated really well and they have all sorts of intern parties and happy hour gatherings that not even some staff employees get invited to. A lot of crazy drunk and hook up stories as well. How true is this picture?

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Also interns are paid OT, which brings them at M pay level but with little to no responsibility.

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Yes, especially co-op interns. Paid hourly, paid overtime, no real expectations with how well they do, free happy hours and parties to entice them to sign. God I miss being an intern

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