I don't agree with their purpose for doing it, of course, but literally anything is better than a public school. With websites like Khan Academy, Betterexplained.com, Mathoverflow.com and all the free university lectures on Youtube, it doesn't matter how stupid or uneducated the parents are, just plop the kid in front of a computer and he or she can benefit from the collective knowledge of mankind!
As for developing social skills? Bah! School is NOTHING like the adult world. The closest thing I can compare it to in adult terms is the type of social order you see in prisons where you either join a clique/gang or get raped and gutted. Screw or be screwed. Are those the 'social skills' you want your kids to learn? If you want them to be sociopath adults, send your kids to be socialized in a public school. If I had kids and couldn't afford private schooling for them (and having that kind of money should be a prerequisite for procreating), homeschooling would be a must.