First of all, I must say that you're mistaken school with education while they're both different. Well, we are not getting educated to work for someone but to discover ourselves and our talents. You can not run a successful investment if you're less educated. Mind you, you don't necessarily need to attend school in order to be educated or successful. However, education is still the key to success!
I thought the same when I was reading the post of the OP, it seems he is confusing school and the credentialism that is expanding all over the world with education, it is true that the standards on the majority of schools all over the world are going down, just as an example I took the time to read the math book from a family member that is currently at high school, and since I still have my books from that time I took the time to compare them and the complexity of the new knowledge being taught was very low, so kids and young people are no longer being taught as we were and this explains while companies complain about their future employees not having the necessary skills they need to fulfill their jobs as they should.