One is always free to home school one’s children. It works fine if both parents are 200% committed, and have sufficient Torah and secular educations to handle all subjects. When one includes opportunity costs, it’s cheaper to use the frum schools. In all fairness, even for kids who are never home schooled, their academic success is largely a function of their parents not the schools – so if a parent is unhappy with their kid’s education, they should compalin to a mirror.
Consider that the goyim gave up their classic curriculum and replaced it with a modern one (about 150 years ago), but we are trying to keep our classic curriculum intacts (i.e. Torah) while adding a modern one, we are doing fine. Of course we are going broke and the kids are driven crazy, but that’s by design.