In a system driven by the demands of parents and students, many of whom do not really know what is best for them, won't schools that are unsound but superficially attractive flourish?
While a choice system driven partly by the demands of some frivolous parents might encourage the development of academically unworthy schools offering easy courses, no homework, and diplomas for all who stay four years, competition would tend to drive unworthy schools out of business over time. Parents and students would quickly learn that the schools conducting flashy, superficial programs were awarding degrees that employers and colleges did not respect, and providing "educations" that left students unable to function effectively as adults. Parents and students would quickly discover that schools offering more effective and no less interesting programs were more deserving of support. Ultimately there is no reason to believe that parents would not choose those schools with a proven record of educating students with the particular interests and capabilities of their children.