Benefits of sophomore honors program?

I am a current first-year and recently got accepted into the university honors program for my second-year. Does this really have any benefits? I understand there is priority registration which is nice (and the only reason I bothered to apply after getting my invite), but on the flip side I’ve heard that there is mandatory community service hours and other activities to waste my time. Can anyone give their opinions on the honors program, and if it’s even worth it?