I went to a public school and did fine. Went on to college and got multiple degrees, a decent paying job, etc.
That said, I was bored out of my mind day in and day out. I did attend class because my parents made me, but I usually spent my time reading books, comics, etc or drawing in the back of the class.
It's an unfortunate truth that classrooms are set up to teach at a pace where the SLOW kids can learn.
What does that do to the brighter kids? Leaves them bored as hell. Twiddling their thumbs, reading something else, or (these days) probably surfing the net. Kind of like "Ok, teach, I got it the first time, why are you explaining it for the 8th time?"
Today, I know the answer. Teacher was explaining the same concept YET AGAIN because the low IQ types in the class still didn't get it. But when I was 12, I just found it annoying and frustrating.
I don't know if "home schooling" is the answer for everything, but for kids who are really sharp, it might be a viable alternative.
This, of course, assumes that the parent or home school teacher is bright and up to the task.
It wouldn't be effective if the home school teacher is some dim wit who teaches science from the Bible.
Having the home school teacher preach "And, as the Biiiible says, Noah loaded all the animals on the Ark two by two, and they went forth and populated the earth, Praise Jeebus" ain't going to cut it. How did Kangaroos get from Mt. Arararat to Australia? Did they fly on a 747? What about all the plants, did Noah pack them onto his hand made boat, too?
So home schools could be part of the answer, I suppose, but they'd have to be used carefully to ensure that the "instructors" weren't dumb asses.