Extreme inebriation is often seen as a source of personal esteem and social affirmation amongst young people ... Tales of alcohol-related mishaps and escapades were key markers of young peoples' social identity. These 'drinking stories' also deepen bonds of friendship and cement group membership. Not only does being in a friendship group legitimise being very drunk — being the subject of an extreme drinking story can raise esteem within the group. ... Inebriation within the friendship group is often part of a social bonding ritual that is viewed positively and linked with fun, friendship and good times.
Sometimes you just have to marvel at the culture of academia, that allows people who need three years to find that out to call themselves "experts".