Does this say something about innovation requiring only very few innovators (and a lot of more ordinary "sweat workers"? Meaning, so long as the US can pick out, or grow a few innovators, that's fine. It's enough. No need to elevate the mass? A sort of innovators take on Great Man theory? Sincere question/point incase anyone was wondering.

It's plausibly the other way around. Have the best educational system in the world and you can't get anywhere when your economic system is based on politburos and cronyism.

Also notice that the educational system getting dumbed down operates on a generational timescale. If you screw it up for the 10 year olds, it'll still be decades before they're the ones in charge.