I think education not becoming harder in the earlier grades is a strong misnomer. My parents did punctuation symbols in their grade 5 curriculum, I did it in grade 3, It’s currently done in Kindergarten or Grade 1, and many other topics have similar track records.
As for high school math programs, many parts of the world have had a shift from a 13 grade program to a 12 grade program which compresses a lot of material.
I think a bigger factor may be we are better at recognizing and marketing talent. The kids who find high school mathematics a complete joke in grade 8 are getting scholarships elsewhere.
Many of my peers in undergraduate mathematics had done work with a professor at a university in their home city during their high school years, a sizable number had private school scholarships based on their talents. So perhaps these individuals are seldom present in ordinary standard math programs.
It could also be communications.
Many high intelligence situations involve disorders that also have as an effect anti-social behavior. Academia is highly geared against this in some cases going so far as to evaluate people’s chances for success in a PhD based on their ability to form working relationships with a peer group during their MSc. Travel is easier and correspondence is far more personal.
Would the mathematicians of the past have been as interested in this model? Perhaps some of them were the type of people that were happy to correspond by mail but found communicating face to face awkward. This wasn’t a big barrier to success in the past, but it is very difficult in modern academia (particularly with most positions in most fields being teaching + research).