From Wikipedia:
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In online computer games players form groups called Player guilds who perform some of the functions of ancient guilds. They organize group activities, regulate member behavior, exclude non-conforming individuals, and react as a group when member safety or some aspect of guild life is threatened.
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The keywords are regulate member behavior and exclude non-comforming
individuals. I think every guild will have rules you have to follow. Your actions
could kill someone in the game, or hurt them. It's all structure, and a lot of rules
are actually... good.
It is like making ice cream sundaes. If there are no rules and nobody knows what
they are supposed to be doing, you might just end up with a handfull of cherries.
By filling out an application process, it shows that you want to get into the guild,
care about getting into the guild, and it also shows how dedicated you are. By
proving yourself to get into a guild, the guild members could see how fast you
work, hard you try, and if you should even be in the guild.