I believe HE has to be judged on a child by child case: just like school, HE does not suit everyone.
It took us 18 months of serious consideration before we deregistered ds from school. Over seven years later, we are happy to say Home Education was the best decision for him. He's currently preparing his IGCSEs and doing rather well with mock questions but the proof will be in the exams!
I have met many HE'd children who gained excellent GCSE results; some went on to six form or college, some continued being He'd and attained brilliant A levels results; a lot of them are now at Uni or in other professional apprenticeships.
Socialising has never being an issue, quite the contrary! Ds has several Home ed and schooled friends who he meets with or talks to every day.
As parent, I won't sugar coated it: it's a full-time, high demanding job and as such it requires dedication; the hours are very long, as you still get demands as a mum and the house doesn't clean itself; it is also expensive (sports, music lesson, books, more books and yet some more books, science materials and equipment, events, activities...)- it is a type of private education.
Dd, on the other hand thrived in school, which was best for her.
As a little side note: we receive regular visits from our HE liason officer (from the LA), which we find mutually beneficial. I like the summary reports, which I can send as 'school report' to all family members (they find it reassuring) and I especially appreciate the ability of the HE officers to act as referees for potential six form, ucas applications, apprenticeships and jobs.