Can anybody explain me the following excerpt?

Question

the american educational establishment's weakness for airy-fairy notions about the evils of standards and competition is particularly damaging to poor children who have few educational resources of theri own to fall back on.

Answer 1

It is asserting that the American ideas of standardisation and competition in the educational system does a mis-service to the poorer children as they use these very steps to gain scholarships to higher education;  something denied to them, had they been forced to pay for them.

Answer 2

The American School systems weakness for the standards of students is the most damaging to students who dont have many resources that the school will not provide.