While I do agree with the video mostly, there is a portion of the song which I think is rather (hint: completely) wrong:
The guy started complaining about how you are taught abstract math over something such as basic first aid (not exact word, but you get the point).
Here is why I think he is wrong on this one: Something like basic first aid, you can learn fairly quickly. Many of the things he complained that you are not taught in school, frankly, are not taught because it is a very large list of very useful things to know, but that do not have much to do with one another and therefore are most likely taught either outside the classroom, or in a very generalized "useful life info" class. And many other things he listed, as a comment pointed out, you can get freely and easily elsewhere like you know... the internet (hint: news).
As for complex math: If you want your world to run smoothly, someone needs to lean it. And guess what? It takes time,
loads of time, is very
very late in returning on obvious benefits to life, and is just about hated universally. Which is why if anything, math and other STEM related subjects are I think the proper subjects to be taught in school. They build up one previous lessons, so you get a proper curriculum for many years, and they are subjects that are vital for modern society.
About his complaining about what to do with the common cold, or a depressed friend: having only basic knowledge in medicine and/or psychology might help identify that there is a problem, and possibly prevent an immediate death, but if you really want to eliminate the problem, you will need professional help.
AKA: Stay in school if you are learning something useful that a school can provide.
Of course, as a university engineering undergraduate, I might be more than a little biased here.