You would be foolish not to apply through the consortium. If you can demonstrate that you fit in their application criteria, it would be foolish for you not to at least try to apply through them.
For the same fee, you can apply at USC, UCLA, and four other schools. If you know someone at USC, let's say a wife/husband/father in law who graduated from there, you can mention that in your
application that USC makes you fill out online, helping your application out a bit, and who know's, you might be accepted, and be awarded a fellowship through the consortium.
Or, If the fellowship is meaningless and you come from a wealthy background, and or most likely you won't be paying for it, Employer or Parents/Grandparents, you shouldn't apply. Guy's like me, Need that scholarship and are willing to do the work. If you don't need it, you shouldn't apply through them. Someone that really needs it can be awarded that fellowship.