I think ColinsMum has it right: "socialization" is much more than "socializing" - e.g., learning to wait in line, take turns, behave at an assembly, etc.
As for the socializing - I agree that there doesn't seem to be as much time for that now as I had, but they definitely make up for it with the special activities. It seems like they have a party, movie, assembly, or something almost every single week! And the last 2-3 weeks of school are almost nothing but!
[Don't get me started on how little time they seem to spend on actually teaching the children....]
