Part of the problem is demanding that the child be well rounded, with an art and a sport and academics and spirituality and a social life. Then parents cart children from lesson to game to activity, without enough time to play freely or even sleep.
We should require full attention on academics. It is stupid to have a star athlete and stage performer failing in reading and math, true skills they need to function in the adult world. After that, extracurricular activities need to be that - extras. Extra activities should be limited to a few that don't interfere with family meals, family religious gatherings (if any), getting enough sleep, study time and some free play.
If parents stopped booking activities non-stop and then demanding excellence in all of them, both parents and children would see a reduction in stress and better outcomes in what they choose to continue doing.