Intelligent consciencious people don't fall through the cracks. Talented people don't ingnore how to use their abilities. The smart ones from poor houses are easily identified at school and the system gives them grants so they can go and study and become successful.

Society is not perfect, but the intelligent loser is 100% a myth. When they grow up in broken homes, they may decide to go for art rather than engineering. But they always end up succeeding either way. "Wasted potential" is extremely rare.