I don’t think homeschooling is a great idea.
Firstly, it deprives children’s of chances of socialization.
One of the things that traditional schools have, on top of knowledge, is a relatively huge student base. For instance, in an standard Chinese high school class, there’re at least 50 teenagers. They spend almost all of their waking hours mingling with each other. Without this socialization training, homeschooling is more likely to shape socially awkward individuals with personality flaws.
Secondly, it is economically unwise.
Traditional schools provide a centralized, highly efficient education system where limited resources like teachers, facilities are utilized to their capacity. Homeschooling on a large scale means new investment on test system developing, network installing, personalized communication, that sort of things. It’s a waste of money.