I was home schooled almost entirely, graduating at 17 with scores better than 94% of American high schoolers. My graduated siblings have had similar results. Our communication skills have been well developed through extensive reading and writing under my mom's instruction. (She is a talented writer) Dad has a degree in biology and oversaw our math and science work.
My only regret is that my education did not have more of a concentration on the classical trivium, literature, and languages. Socially I have had no problem adapting to people and situations.
I think a small, highly competitive private school is a wonderful option for concerned parents, or homeschooling combined with some classes that allow the students to experience peer competition under more advanced teaching than parents may be able to provide.
Unfortunately home schooling in some families is really 'no schooling', and child development may be impaired. As in anything, there are excesses and abuses.

