Unschooling is much more closely related to free schooling or democratic schooling as has been practiced successfully since the 1920s at places like Summerhill School. These students are sought after by colleges because they are articulate, self-motivated learners. It is actually much like college because students choose what to learn about (often through classes or workshops), rather than the high school model of everyone taking the same state-required classes. I would bet nearly all Slashdotters learned to code this way.
The biggest drawback to unschooling is that it pretty much requires one parent to stay home (or both to work part time). On the other hand, in areas where the public schools are underfunded, private schools can eat up all the income from a second job anyway.