The group we homeschool with has 250 families. The graduating class has 40 kids this year. They will have a graduation ceremony just like public schooled seniors. We have Key Club, band, drama club, prom, yearbooks, most all that stuff that public schools have.
Thinkng back to what I had in public school versus what my DD has being homeschooled, the kids do miss out on the lunchroom drama, but I didn't experience anything like that in college so dealing with it in high school didn't exactly prepare me for anything.
ETA - I expect my 8th grade homeschooled DD to thrive in whatever college she chooses when that time comes. I hope she won't go out of state, but that's for financial reasons.

If that's what she really wants, though, we will support her choice.
Also, you may wonder why we homeschool if she still goes to "school dances," we have a "school play," a "school yearbook," etc. Why not just do public school? It's the academics and the flexibility.

In public school, DD could only have the four required subjects (English, math, science, and history/social studies) plus one elective, and PE. At home, she has 10 subjects (the four required by the state, plus PE, plus 5 electives). She also has time to take ballet, pre-pointe, tap, jazz, horseback riding, ballroom dance, flute, is in the band, sings in the choir, and she volunteers at our church. She would have to give up most of those things if she ever chooses to return to public school.