Networking- Also needed for non-IB internships?

This is probably a dumb question but is the whole need for excessive networking only necessary for investment banking internships since its a competitive industry or also for non-ib related internships?

For context, there are some morgan stanley sophomore internships regarding institutional equity, global capital markets, etc. To be completely honest I have zero clue what institutional equity even is. Am I supposed to network with people in that departament of morgan stanley? Are there specific technical questions for that field Im supposed to know? Or is it more just taking finance-related students and having them explore a new field?

Again, sorry if this is a dumb question Ive just been so absorbed in the ib world that I have no clue how differently anything outside of it works

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