Allegory for class divide?

When we meet them, the 3 protagonists are regular middle class kids with dreams of upward mobility - being part of a frat house, going to happening parties, meeting girls, having career opportunities.

They are first sold this elaborate lie and told that all their dreams will come true if they work hard and make the necessary sacrifices. We see this when they are first invited to the frat house.

What follows is exploitation and humiliation. At the very start, the pledges are permanently branded. Like one of them says, they are going to carry the scars forever whether or not they achieve the dream.

At some point, the boys figure out they are in a rat race that they will never win (they are literally compared to rats at 1 point). It was never about their advancement to begin with, they were just pawns on a chessboard.

Only when one of them embraces the ruthlessness of these faceless overlords does he gain entry into this elite club. Everything told to him before that, about hard work and sacrifice, was a lie.