MMHF undergrad intern working banking hours?

My best friend is interning at a small MMHF and he’s working 100+ hrs/wk

Context: pod is just two PMs and one analyst who was a VP at a BB. The firm usually hires from the sellside so he's one of the first interns they've had. In the past two weeks he’s built 5+ models and gotten chased constantly by the PMs. He’s slept multiple nights in the office cuz of the deadlines. 

Questions for people who joined pods by converting from the internship:

Is the pod being demanding a signal that they have hc or just milking college kids for labor? In this case, it is better to grind it out or try to get in a company that has a proper undergrad program like P72 or BAM? I mean if the philosophy is “we need output” and they don’t care whether a VP does it in a day or a kid takes three, that’s one thing. But if they’re explicitly leaning on the fact that an intern will say yes to everything, that's a problem.