They'll probably go the bookstore and buy some SJSU shirt that is orange and brown or some other ridiculous colors. They'll go get drunk at the tailgate party, go watch half of the football game before going and getting drunk some more. In the meantime, somebody will be named homecoming king and homecoming queen and no one will care about that either. Maybe the person and their friends and family. Then on Monday, everyone is back to not giving a damn about the school.
Homecoming is like the Hallmark holiday of college life.
It's there just to manufacture a little spirit that doesn't exist. It's about as pointless as Mother's Day. If you care about your mother, then care about your mother all the time. You shouldn't need a day to tell your mother you love her. The same is true with homecoming.