Although this is completely possible from an academic point of view, this is a somewhat narrow viewpoint to take. Academia isn't the only aspect of high school. One of the most important aspects of compulsory schooling is social development. Another is the ability to successfully deal with authority figures. Without these, you can be as smart as you like and still get nowhere. Although I don't agree with the importance of popularity, I still understand it by remembering this one point:

The world is ruled by people