Not to agree with B402 since I recall a bit of the history there, but the article cited makes some points and misses others.
Grade inflation is definitely a thing. In your day (and to a lesser degree mine, since I'm a few years younger) if you didn't perform up to grade standards, you were left back to repeat the grade. I don't think that happens at all any more. In addition, there are some places where parents are so irresponsible that they have zero involvement with their children's education...they treat school like it's a babysitting service. Kid in 6th grade doesn't know how to read? Oh well.
On the flip side, there are parents that will blame the teachers for Johnny or Sally's failure to keep up. I know several teachers who retired as soon s they could because the parents were insane and, in many cases, the school administration sides with the parents because they don't want any problems.
The kids come out as the big losers.
On the college front, things are much different from your days (and mine) as well. Tuition costs (along with housing, fees and the cost of books) has exploded, fueled by easily available college loans. There's also the need to enhance facilities to keep up with other schools. The quality of the housing and athletic facilities at most colleges would blow you mind. I spent my sophomore year living on the 22nd floor of a university building in Philadelphia. The air conditioning for the entire buildingf was non-functional from the time I moved in during August and still wasn't fixed until I moved out the following May. That would never fly these days.
Meanwhile, I recently heard a projection that within 5 years, A.I. will eliminate up to 50% of what we consider "white color" jobs. That might be an exaggeration, but the trend is clear. Tech companies are shedding workers by the thousands.
It's a different world now.