Education system tries to teach students knowledge that can be googled in a minute. None of the exams and tests actually adds value to the domain of knowledge. I think, what's lacking in education system nowadays is the teaching of creative thinking, without punishment and barrier.
I believe in no assignments, no homework or exams. I believe in the power of letting the students do whatever fancy him regarding learning. Let him/her study about blockchain, let him/her read about Aristotle, let him/her practice Japanese, let him/her do some hacking, let him/her paint, let him/her sing, let him dance. Through this, we will make each learner happier even though they may fail.
Yes! I think we are finally seeing the switch over to people valuing skills and passion rather than rote memorization. The current education system just reinforces memorization of random facts in a world where random facts are available at one's fingertips 24/7/365...