Yes there are some genuine problems with the idea, but nothing in the realm of impossibility IMO. It will need a reasonable amount of investment and time.

The thing about education system is that everyone knows its a problem and everyone knows it needs to be fixed but no one wants to be the first to jump in to it (I don't think Khan Academy counts).

I think the first effort is important and whoever does it first needs to set an example for everyone else to follow.