The direct admit process does not place students in an honors program.
All Wisconsin BBA students have a similar undergraduate experience, whether they are UW–Madison students admitted through the pre-business process, or are high school students admitted to the Wisconsin BBA program via the direct admit process.
If you apply through the direct admit program and are denied admission, but you are accepted by UW–Madison, you can still become a Business Badger in the future. You would enroll in UW–Madison to start, and then use the pre-business admission process to apply for the Wisconsin BBA Program in the spring semester of your first year. If you were denied direct admission to the Wisconsin School of Business as a high school student, it will not influence your chances of being accepted to the BBA program as a current UW–Madison student through the pre-business process.