I saw it this past weekend (with Hillary Swank and that chick from "Blossom" - right?)

The only part that bothered me was my husband asking me every 5 minutes... "does that really happen?" - (he is not greek)

I think the movie more deals with a girl's self-esteem; not what a sorority made her do.
It could happen if she tried out for the cheerleading squard, pep squad, homecoming queen or every day life in a young women with peer pressure to be the most thin, beautiful and popular. Sororities were used as the scapegoat in the movie.