For one thing it has a pleasant campus, a great student medical service and it’s in the middle of Philadelphia. Philadelphia is a pleasant and historic city with lots of music, plays, restaurants, and activities.
One competitor is The Amos Tuck School out in the sticks. However for the best campus with great climate Stanford in California gets my vote.
Secondly I don’t think there are too many other 1st rate business schools that offer their programs to undergrads. The B School at Harvard for instance wants older students who have business experience. As to getting more for your money elsewhere, the top schools have plenty of scholarships, grants and such to offer. A diploma and a “cum laude” from a top rated school with active alumni like Penn (Wharton) is like a passport. It means as a student you were already top of the heap. Many more employers will be interested in you. This is important in the beginning of anyone’s career — but after a half-dozen years, far less important than your performance and reputation in the real world. I graduated 60 years ago and many times have felt a bond with other grads of Wharton. Plus friends I made at Wharton (we always say “at Penn”) have been useful both socially and in business deals. Not enough maybe, to guaranty my vote in an election —unless “all other things were equal…”
Finally, a top Ivy League school tends to attract to-notch foreign students who are destined to be in key positions when they go back to their their own countries. In my own case, friends I made at school smoothed my way socially & business-wise in Africa, South America, Europe and Asia.
You are buying into a top brand with Wharton. You may be able to get a car as good as a Bentley (more cheaply) if you shop around, but with an established brand you get more prestige and respect, even if not always warranted.