If we can educate our kids at home why do we need to send them at school?
If socialization is a problem in homeschooling, there are many solutions to that ;-)
Not only socialization. There can be other problems like no contact with people from other groups, much poorer or richer people or from other races sometimes, biased teachings, parents not having the time and not being qualified to teach all subjects, personal tutors not being cheap, etc.
We can really educate our kids in our home but it is not enough. formal schooling is important, All of the highest paid jobs requires a college degree and we we'll only obtain a college degree from formal schooling. We also don't have enough time to teach them all that we know.
Without school there would be no doctor, pilot, or any high-level work that matters to us. Although we are not doctors but we need a doctor, and what if the doctor in your city is uneducated? What if they do not have a medical certificate? Do you still want to go there if you get sick? Are you just going to rely on people who treat people with obscure black magic?
Would you like a plane with an uneducated pilot?
People can be home schooled or even unschooled for most of their lives and do those jobs. Depends on the country but could be enough they take some form of aptitude test. Then go on to a dedicated course or university like everyone else.