I rarely post negative comments on this platform, but this time I think I should.

Some successful people who didn't go to school

This is wrong in so many levels... Einstein got PhD in University of Zurich. This is the direct opposite of "not going to school". Bill Gates studied in Harvard university which is number 7 in World University Rankings.

Most of the knowledge is not utilized in the future

Can't agree. Almost everything you learn will be used at some point. Math is a gymnastic for your brain. It teaches you how think and solve issues. Also math is the most powerful tool to learn abstract thinking, there is just no better way. Abstract thinking is what helps humanity to progress.

For some reason designer's , dancers as well as artist are look down upon in comparison with engineers and doctors.

The reason is social necessity. We can't survive without engineers and doctors. We only need dancers when engineers and doctors have already supplied our basic needs.

As for point #3 and #4 - yes, these are two most common problems for educations systems in most countries. I would not agree on ranking, it helps to establish competition and we need it. Most of students (below age 17-19) don't understand they need to do their best in school, competition helps to make them at least try.

This type of education was maybe necessary during the Industrial revolution

Industrial revolution ended 180-200 years ago sometime between 1820 and 1840. I don't know where you live, but I doubt educational process and standards in your country date back to 1840.