My problem with Caplan's arguments on education, which I've admittedly only read a few of, is that he seems to derive them largely from an elitist, Ayn Rand-ian sort of worldview where most people are simply beyond hope and investing in their education isn't worth the resources (as priced by market forces). My view is more that most people have a distaste for learning, education and autodidacticism because they grow up steeped in a culture that discourages these things, while simultaneously rewarding the opposite sorts of behaviors. Though it seems to have gotten better in the past few decades with the rise in popularity of "geek culture." Rather than promoting only the top 5% or 25% of people achieving advanced educations, I'd rather look at the culture and socioeconomic factors that cause the bottom 95%/75% to not be as anxious about advancing their knowledge as the ones at the top.
The whole thing easily leaves him open to accusations of trying to build a world of grunt workers who will serve as cheap labor for those at the top, especially when you consider how much of people's potential isn't determined by their genetic gifts, but by the socioeconomic environment they're raised in, who their parents, teachers and peers are, etc. His suggestions seem like they would create a self-fulling prophecy towards a caste system, where as I'd rather see something more akin to "posthumanism for everyone."