Just anecdotally based on my 2000something kid high school, the copious amount of tiering of math classes seemed to indicate to me that either we're really bad at teaching math to 80% of people, or only 20% of people will be able to handle precalculus.
We had basically 4 tracks: one ended with you doing algebra 1 in senior year, another ended with you doing trig in sr year, yet another that ended with trig (no precalculus), and then one that ended with you doing trig and precalc. That final class then had further subdivisions that were too small to have their own full classes: some kids just did precalc, some did calc 1 and took the AP Calculus AB exam and/or IB Math SL, while even even smaller group took AP Calculus BC and/or IB Math HL. The total number of kids who took the AP Calc AB exam in my year was 20ish, out of a graduating class of 500-600.