The main reason I wouldn't enjoy watching my neighbor's kids is that we now have an absolutely paranoid, delusional society that has a mentally ill view of the dangers of children. By signing up to watch kids you incur absolutely massive liability, all it takes is one accusation and your whole life is destroyed and you lose everything, no matter that it was false. You would basically need cameras at every angle at all times before any rational person would want to watch someone else's kids.

Thus you end up with daycares nowadays where you pay a gazillion dollars tuition for your child to be taken care of by a minimum wage worker, with most of the money going to overhead and insurance.

The real advantage of government childcare is the state can just say "go fuck yourself" if you sue them or accuse them of misconduct and thus do it for cheap like in the old days. In fact the only other economical model is to just dump your kid at an illegal's house, they don't give a shit if they get sued, they can just dump everything and move to the next city.