Point of internship
First, let's examine what is the point of an internship:
For the student: Learning something new, experience the working life, building your resume and securing a full-time job.
For the company: talent pipeline, extra set of hands to help, providing a fresh perspective to a problem and branding themselves to the workforce of the future.
If you managed to secure an internship with a big brand (think JP Morgan, Google, Facebook, BCG), you will have a competitive advantage over many other candidates in future internship searches and your first job search. So a good internship compounds.