With that said, it's only a single piece of a much bigger problem. Even if a child didn't have to deal with education as it exists in many countries in the present day, the child may still live in a not so child-friendly environment, which will do much more to the child's psychology than school ever will.

The truth is, while the rebellious kiddies who think they're smart(I was one of these, and I can admit now that I sounded like a tool) like to point at school and say it's an institution that robs them of a lot of their self-reliance or some other bullshit, there's plenty in the world that can do the exact same, like parents or the media, while never giving a single drop of knowledge to the child. School on the other hand, is a way of supplying children with knowledge that can be applied to a diverse array of subjects.
While I admit that these subjects are not all essential to the child/teen's future job, it does help to build understanding of how the world works, which is a good thing for any person to have.

TLDR: School sucks, but not that bad.