I’m not a parent, so take this for what it’s worth. It seems like the goal should be to raise kids in a way so that they will lead happy lives. Hard work and accomplishment (such as school success and shredding violin skills) can help lead to financial success and stability, which is a very important part of happiness. But it’s not the only part — far from it. It seems that these parents are solely focused on that one aspect to the exclusion of everything else.
Again, non-expert here… but I doubt very much that this approach optimizes for happy and well-adjusted adulthood.