I think high school has started to fail as an educational mechanism.
Let's face it: There are many, many stupid people in the world who will never be that bright. Be it from biological or parental reasons, there are many who will not grasp intricate logic, higher math and philosophy, etc.
Also, many students are capable of beginning higher education in high school. Programming, engineering, even medical studies could be started in the teen years of the brightest students. But we're not fulfilling that potential at the moment.
tl;dr high school should be more challenging, and we should accept that not everyone should go to college.