What confuddles people in education is the same thing that causes endless articles about housing, healthcare, inflation… it’s called “basic economics”. Just because education is heavily regulated by the government and full of people ideologically predisposed to pretending economic rules don’t apply, doesn’t mean supply and demand is false and the normal rules of gravity are suspended.
I myself have children and live in Boston, Massachusetts. The per-student funding here is $25,000 per year. Yet excluding a few meritocratic public schools that you have to test into (which they are making ever harder for my Asian children to get into as they reduce the seats allocated to tests and give away to “underprivileged” races, aka not Asians or whites) the schools are dog shit and anyone with a few bucks avoids them like the plague. So money is not the problem in Boston, it’s the horrible nature of the public school system.