I think it's a very individual thing. In my case, I got a very good education from being homeschooled. Better than any of my public-schooled peers. There were some factors that made it successful - my parents actively wanted to homeschool us, my mother was an intelligent woman who did a very good job, we were heavily involved in a church community and christian homeschooling groups so I got a lot of structured social activity, I had many siblings so was not alone, I had outside interests that other adults supported me in so I spent a lot of time outside the home with other people, and I was very self-motivated child with a huge amount of curiosity.
None of these factors apply to my situation with my daughter, so I chose a small local school where those important factors - work ethic, love of learning, respect, morals, are a very important part of the school culture. That being said, I had to teach her to read myself over the summer vacation when she was 5, as she still couldn't read properly six months after beginning school. Obviously a child is going to get a better education if taught one-on-one. It has just been my experience that many of my home-schooled peers were taught at home due to an ideology, and their outcomes were not good in many cases. Nobody in the homeschooling community I grew up with (and this is a lot of kids, over 30) chose to homeschool their own children when they had them. That does speak some volume I feel.
In life everything has positives and negatives. I feel it's important to acknowledge both aspects of a thing, and be mindful of how you do mitigate the negatives. There are negatives to NOT homeschooling, and I try to mitigate those by remaining connected to our school community and aware of what my daughter is and isn't learning, so I can fill in any gaps.