Yep. My child was just accepted into a G&T program; it replaces gym period once a week, and I believe the teacher is responsible for all the G&T classes in the entire district (3 elementary schools, 1 middle, 1 high) - so if she stopped teaching G&T and started teaching an additional class, it would help exactly one school's grade level. Maybe better than nothing, but not by much.
You are right but this is a fairly new development, driven by activist lawsuits. It doesn’t have to be this way, these sort of changes are not irreversible.
Not necessarily a good idea. Dealing with disagreements, distractions, conflicts, low and high performers around you, that's all part of social education. It's not explicitly on the curriculum, but if you just give everybody a super sheltered cotton-clad education environment until they are 18 then they will be better at using the pythagorean theorem or discussing Shakespeare, but they will utterly fail on the street and will scream hate crime the first time somebody disagrees with them at the workplace.
I'm obviously exaggerating, but it's not purely good to remove "distracting elements".
A good idea but not practically possible in any district, unfortunately.