Spot on. The big concern I had before we decided to homeschool was the lack of social development, but when I really thought through all of my "social development" in grade school it was learning to survive in a really nasty Lord-of-the-Flies environment where a lot of kids without well-developed moral compasses were competing for the admiration and respect of a lot of other kids without well-developed moral compasses, and we all learned proper American values like "our parents and other adults are lame" and "we should look down on people in lower grades than us." "Social development" for me was in late high school and college where I reacclimated to an environment where people weren't looking to score social points by putting one another down.
Why would I want my kids to take that long detour through dysfunction?