You could have said the same thing 20 years ago about wikipedia and the internet in general. A kid in a poor school on the other side of the world has access to the same wealth of knowledge than a student in a Ivy League university. But that hasn't made universities useless, and very few of those kids in poor schools (that wouldn't have gone to a elite university) picked up the opportunity.

If anything, AI in education I think will lead to a divergence. Mediocre students will be even more mediocre as they will use it as a substitute for learning, with AI doing their homework. Good students will leverage it to learn and understand things even faster.