I think it is totally wrong and terribly harmful if education is defined as acquiring knowledge.
We don't focus as much in schools on educational knowledge which requires thinking and application, as we do on acquiring facts.
As long as acquiring knowledge is the educational goal of schools, educational opportunities will be limited, as they are now, to affluent families.
You can acquire a lot of knowledge without ever going to school.
I think education is both using and improving knowledge and that changes the whole picture.