Let me pose a counter argument.
In many fields, we already have more PhDs than we know what to do with. There aren't enough university positions for all of them. Their salaries end up not being commensurate with all those years spent in school, and they live miserable frustrating lives trying to raise funding for their research.
On the other hand, in the USA the public debate still revolves around things like supply-side economics, climate change, and what God thinks about abortion. Issues that are settled among educated people who aren't demagoguing an issue for personal gain.
I would posit that we are already doing enough for the gifted in our society. What we really need to do is *raise the average*. If that means we end up with plumbers who speak three languages and have a B.S. in chemistry, so be it. We are better off as a society when the average person is equipped with the skillset of a university graduate. If you look at the Nordic countries, they're pretty much already there, and better for it.
This was the reason people like Thomas Jefferson supported public education. Not as job training, but as a prerequisite of citizenship. For democracy to succeed, the average person must possess the "ars liberalis"--the liberal arts--literally, the arts and skills of being a free person.