Dan,
I have always felt like Calvin was the poster boy for homeschooling. We love C & H at our house (we homeschool three) and I know several other homeschooling families that love the strip.
Calvin has nothing but utter contempt for school as multiple strips show him daydreaming and doodling while he is in school. I would hazard to say that all the strips where Calvin is at school he is bored, unhappy, anxious, disgusted, hopeless, or aggravated. The only times he is happy is at lunch when he is grossing Susie Derkins out or at recess (that is when Moe the bully isn’t after him). His teacher is named Miss Wormwood after the apprentice devil in Lewis’ classic Screwtape Letters. That isn’t a joke the average reader of the strip likely will get. I just wonder what Watterson was trying to say about the institution?
I’m not trying to make an ugly connection between psychotropic drugs and public school, but I don’t know of any homeschooled kids that are on them. If you’re looking for a broader societal application, I missed it.