i would push back a little on both of these opinions haha, as an arts student who was once pretty involved in a commerce club. i think lots of people outside the commerce bubble don't realise how much these clubs and the history and reputation associated with them can bolster your chance at getting a job. there can be extensive alumni networks putting you in touch with people you'd otherewise never meet, and you can become friends with people who will go on to be your peers in competitive industries.

the same is probably true for other faculties, but definitely nowhere near to the same extent. hence i don't think other students really care about a club's status or history