What on earth is so bad about this? Would you rather have the high schools just jettison people out into the world with no prospects for an independent future or would you want them held accountable for each and every student's advancement potential? The options aren't limited to 4 year college acceptance.
The options are still far too limited, and the way to hold high schools accountable probably isn't holding the futures of their students for ransom. This will ruin quite a few people whose futures are already precarious and do little to actually fix the problems facing education in the United States. It is needlessly authoritarian with little hope for gain out of this.