Lobbyist internship... worth it?

I was hoping to find a spring internship with a hedge fund but it doesn't seem too likely at this point.

I got an offer from a state-level lobbyist firm, though. The work is moderately interesting and it would be a neat experience, but it will take up a lot of time. How might such an internship look to HFs for summer internships and FT opportunities?

If I don't do the lobbyist internship and can't find a HF that wants free labor for the spring (surprisingly challenging), then I will focus on developing my strategies, which I think is beneficial. However, that doesn't show up on a resume very well.