This system seems focused on education as a means for employment rather than education. This kind of focus on the material benefits of education results in a very mercenary view of the world. I think most people would agree that it would be beneficial to live in an educated society where everyone is curious and constantly learning, but this kind of tracking and sorting system seems designed to encourage a mentality where the ends justify the means since your future can be heavily influenced by what track you are placed upon. It would be one thing if students could pick their track and shuffle around as their interests change, but telling a kid, “You must get a math job because you are good at math” removes any agency and motivation for learning. It will turn into, “You must get good at math and get placed on the math track because that’s where all the high paying jobs are.” Education becoming a means to an end instead of the goal of school.
I don’t think the point of schooling should be to get a job. Children should pursue their interests while recieving an education wide enough to accommodate being trained in whatever field they decide to follow. A lawyer should know a little trigonometry. An engineer should know a little philosophy.
A job is just something you do to pay the bills. I don’t see any problem with a barista who followed their interests and got a degree in Mesopotamian Culture. It’s only a waste of time if you view education solely as a means to employment.
In much of the modern capitalist world, education is seen this way, unfortunately. I agree with you that people today are sorted into social classes based solely on how much money they make. It’s how we end up with Business Idiots; people like Elon Musk who are fucking idiots that don’t know how anything works. But since they are really good at making money, they are seen as paragons of society. The construction worker with a degree in Underwater Basket Weaving contributes more to society than any CEO, yet is seen as stupid and worthy of derision for both having a physical labor job and pursuing their interests.