there’s precious little going on
Is '' there’s precious little going on'' emphasizing that there are very little activities are happening in the university (MIT university) then other universities?
The musician Yo-Yo Ma’s cello may not be the obvious starting point for a journey into one of the world’s great universities. But, as you quickly realise when you step inside the Massachusetts Institute of Technology, there’s precious little going on that you would normally see on a university campus.

Question

there’s precious little going on
Is '' there’s precious little going on'' emphasizing that there are very little activities are happening in the university (MIT university) then other universities? 
The musician Yo-Yo Ma’s cello may not be the obvious starting point for a journey into one of the world’s great universities. But, as you quickly realise when you step inside the Massachusetts Institute of Technology, there’s precious little going on that you would normally see on a university campus.

Answer

There is hardly anything going on.

Answer

I can't understand it yet ):.
Can you give me more explanation?

Answer

Rather few "activities of the kind that are typical of other universities". There are activities, but they differ from those that are usually observed in other uni campuses.