Very interesting topic that don't have a definite answer if you ask me.
Nationality and personality matters.
Undermining or overrating formal schooling is not healthy. There should be a healthy balance between formal education and other educational approaches.. Or ways of earning a living...
Imagine a president of a country without schooling (to the least, can't read and write in any language) He might be a good person but just imagine what it would be like?
In my view, there is no need for any comparison because a healthy balance is just as healthy as education generally whether formal or not..
Not to forget, money making is the major driver behind this comparison which somehow makes it a mindset issue no matter what country and the level of national development..
To note also, the mindset that after school is job is also a driver of such comparison, since some might never get a job and this is why schools actually need innovation to level up with the present civilization and needs mostly in poor industrialized nations.
One should be able to know the advantages and the limits ( not disadvantages) of formal schooling/education. That school dropouts made things happen does not mean they haven't benefited from the advantages of formal education...
That formal education settings do need innovations does not render it useless.
Don't forget, there is no how one person will not work for another whether by formal education or not.
So, the advantages and the limits in personal life is what should be identified (as far as also seeing if you need it or not)