So rather that someone auto-investing a slice of their paycheck into a s&p fund in their 401k, they should instead learn how to evaluate company financials so they can pick winners from a non tax advantaged account?

This is a losing strategy for the large majority, and it's been demonstrated repeatedly that even professional investors can't beat the market especially after considering fees.

https://www.investopedia.com/articles/investing/030916/buffe...