Do you agree that if a child is bright enough he or she can catch up and even outdo others later in primary school, and thus no need to invest in expensive private preschool? Or do you think it's better to build a strong foundation during preschool years so they won't lose out in primary school?

I would say the preschool is important. The current preschool that my child is attending, their standards compared to other school, is considered pretty high. Their explaination is while the children at such young age are keen and interested in learning, they shld learn these tougher things. thus when they move on to primary school. the transition is easier