I'm more thinking, the winning school sports team, a choir performing, etc. Things that would be posted in normal institutional participation and give children positive affirmation and recognition
Certainly in my lifetime we never posted such things publicly across the globe, neither for myself nor my peers, nor for my children and most of their peers at school.
Such things were printed and handed out and rarely made it past that years parents and students and the school archive (physical visit required).
Some schools will (try to) do this, but under European privacy and portrait right laws, they have to get explicit permissions from parents first.
I think a school news letter / yearbook is cute, but it should be private and only for the students and parents. A physical version would be best, you can put those in the archive instead of realize 20 years later that the digital versions are gone.
Such things were printed and handed out and rarely made it past that years parents and students and the school archive (physical visit required).