You seem to have a particular worry about administrators deciding the fate of children by thinking they wouldn't challenge them by placing them in the correct track, or that the children would be discriminated against based on their race or social status.
Just a quick FYI: this isn't 1850. There are solutions to problems like these. For one, we can provide aptitude tests. This would allow schools to decide which track is right for a student in an objective way. If a parent disagrees with the placement, they could request a certain placement, too. It's not meant to be segregation, it's meant to serve as teaching to students at a level that's challenging to them, but not unfair. Everyone is NOT created equal, and some excel at different things. To package everyone into the same exact track is ignorant at best, but probably just stupid. In fact, it's unlikely you'd have any student wholly within a single track. It makes more sense for some to take much more advanced courses in a subject that they excel at and in lower tracks for other subjects.
And honors/AP separation is approximately correct. But AP has become even simpler since I was in HS (8 years ago). I looked up the AP exams I took to find that they have been simplified. The AP AB CS exam for instance no longer exists because it was deemed too difficult. I got a perfect score on it, and I ended up getting a math degree because I went to a state school and the CS curriculum was trivial for me. Having later taken Stanford courses and taught myself the curriculum used at MIT, they would've both been good fits. The only reason I didn't pursue either was the cost.