I just see a lot of people using the "public school" line as a cudgel to bash charter schools, but charter schools are exactly the mechanism to accomplish something like this for people who aren't revered/rich enough to exercise the kind of influence over their hometown that LeBron did to get them to agree to incorporate novel facilities and practices directly into their district.
Then I see the consequences of bad law in other states, and I just cringe.
Ultimately, the public school system has to serve students who have been excluded from more selective schools, otherwise you end up as a society where the most basic education is a privilege instead of a right.
However, they often do exclude those who don't have parents actively demanding more for their children, those who perform poorly on standardized tests due to adverse home factors rather than innate ability, or those with special needs such schools aren't equipped to support.
I have no idea what the effectiveness is in my state, whether success is contagious to underperforming students or not. Either way it will be interesting to see how this inverted philosophy of magnet schools performs in comparison.