This is exactly what is wrong with the modern education system (IMO) - since when would it be wrong to persue knowledge for the sake of learning something that interests you?
It's not education if the goal/outcome is solely test scores surely?
We need to give our children what they need so that they can thrive and be all they are capable of being. If that means creating a relaxed and happy environment at home and within the community where they can learn to their hearts' content and form meaningful relationships with other people in a variety of contexts then that's what you need to do. It makes sense to me on every level...
Even if the year doesn't work and your child goes back to school, what have you "lost"? even if your child needs to show mastery of whatever or re-do credits for whatever reason - you and they will have gained so much more than that one year of frustration and credits is worth.
We (our children) here on this board have the advantage here in that they are capable of catching whatever they missed faster - and even if they weren't, as I always say to parents would it be the end of the world if little junior finished school a year later - worst case scenario being that the etire year is a write off and absolutely nothing is learnt? (of course world-wide studies on homeschool show that this is not the case... but I digress)
