It's going to depend greatly on your geo location and socioeconomic circumstances, but a homeschooled kid who interacts a lot in the neighbourhood (big "if", IME; those kids all have a lot of school friends) is still going to miss out on broader social, cultural, racial and financial exposure. Example: my white, middle-class kids have a lot of people exactly like them in community groups and sports clubs, but lots of eastern european & asian immigrants in their school classes. This is super-important in elementary school when they're far less aware and insular about interacting with people who are "different" IMO