The problems with the system are obvious: lack of discipline, bad teachers, bad curriculum, not focusing on merit, not focusing on grades, lazy enforcement of rules, not focusing on a learning environment. Note that money doesn't appear in the list of problems. They also had the fewest schooling hours of any school in the district and almost no homework.
It was ran by a genius who cared and was willing to say "no" to the dogma of his teaching peers.