There's plenty of unschooling in the area I live. My kid meets other kids in the park who are homeschooled but the parents don't teach. 'Go do a craftwork' is fun for small children but it's not going to amuse a 12 y.o. or help them get a job or prepare them for life. That said, very little that I learnt in school applies to my job but I learnt social skills, don't bite, don't fight, don't spit, how to make friends, how to lose friends, how to help friends with problems in their life, how to ask for help. I also learnt about responsibility, deadlines, homework and why you have to do things you don't like.
Around here the homeschooling is sometimes motivated by a parent's desire to isolate their children from people not like themselves. Life can't be like that. A school helps you meet different/strange/weird people and you learn they are just like you.
I agree with giving kids lots of extra experiences and challenges. If you can do that for your kids then be grateful that you have the time, money and ability to do it. There's lots of struggling parents that want to but can't