Being an IITian, I can confirm that the story portrayed in the series is accurate but not complete. It mostly showed the negative side of the spectrum and didn't cover all of the aspects of it.
It would be good to introduce and discuss the topics such as alcohol, smoking, etc. What percentage of students are involved and why they are involved.
Why the students don't like to attend lectures by the professors? There is a fault in our education system as well.
A comparison between an IIT and a normal engineering college is also not shown.
I believe IIT is just like any other engineering college the only difference is that everyone else in the world thinks of us to be some sort of genius (because we did well in one paper) which is why we get more attention, placements, respect, etc.
The most important point that the series missed was giving its viewers some conclusion. Especially for the students preparing for IIT, the series should have ended with some conclusion. It should tell the viewers that IIT is not EVERYTHING and there is more in life ahead of the placements. But this does not mean you should give up the studies and not prepare for it also.