Unfortunately, the people writing checks don't ask "how could it be better for the same money?"; they ask, "how could it be equal for less money?"[1] Yes, we have an opportunity to make education much, much better. With the exception of a few places like Harvard and MIT, most of it will pass right by the US.
[1] I see a small possibility where the strong teachers unions get behind this as a future-directed way to save teaching jobs, and that could make all the difference. However, unions aren't too smart at predicting and driving assive upheavals. Instead, they will likely fight any change kicking and screaming.