Seriously its not mainly because of better dresses. Seriously it has nothing to do with bombastic make up. Seriously it does not concern with good food or whatsoever.
Seriously it got none of the above listed as the requirement.
It is simply for the memorable moments.
Moments in which you will treasure. Moments in which you set as the mark towards the end of your journey as a student. Moments where all the good times will be cherished, and the bad ones will be forgotten. Moments where you may not stumble upon anymore in the future.
Or at least, the last few moments that you had with your friends here.
Still does not sound big to you?