And to add context...we're an eclectic schooling family. We've had children in public, private, and homeschooling, usually more than one of the above at any given moment, with the decision on schooling very much individualized to the child and the moment. (At the moment, public and home.) So certainly, all formats can have their advantages for specific children.
On another note, one of the qualities I like about my place of employment is that our catchment crosses district lines (we're a regionalized school), with both fairly high SES and high needs communities, all of whom contribute to the system, which allows some students (not enough, unfortunately) from less-resourced communities to benefit from the tangibles and intangibles contributed by and typically accessible to more-generously-resourced communities, including some of those associated with college admissions. The benefits accrue both directions, of course, although they are not of precisely the same nature.
Everyone earns a spot the same way, with demonstrated performance in the context of their sending schools, and has access once there (as far as we can control conditions inside school) to the same extracurricular and advanced opportunities. (We don't charge fees for extracurriculars like sports, clubs, or afterschool enrichment activities. Even for uniforms and equipment. Nor do families incur out-of-pocket expenses (including textbooks) for AP courses/exams or dual enrollment up to and including an associate's degree by graduation.) Less talk, more action...
