I like the concept. The opening is particularly strong for me. Like really strong.

Our imaginations ran wild. Our lives were full of wondrous things.

Try tossing this. I think the info is already conveyed with

We didn't step on cracks, lest we wanted to burden our mothers with years of pain and medical bills.

not only because this requires imagination, it's a line existing in an environment separate and yet imagined onto the stage (the stage has no cracks!)

Enter formal education (stage left).

I want more stuff like this. Your concept has more legs than you give credit. I think the poem would only be stronger the more concrete you treat this play, and let the subtext do the work. Afterall, plays, scripts, are extremely subtextual -- actors and directors do a lot of the work in interpreting it.

I'm torn about the quotes. Mostly I don't like them. I want to see what happens if removed. I think some lines could be made to resemble a script like

Formal Education: Hold your pencil like this. Respond in this fashion.

Also, a lot of lines like,

Intermission comes at different times for different people. Most commonly referred to as a “Mid-Life Crisis,”

Read a bit on the nose to me. Maybe. It's attributed to a they, like societal pressure, and I can see maybe how that could work as intentionally overbearing and on-the-nose, uninspiring. So it could be working...

What once was a drama transforms into a saga.

What's the distinction? Do sagas not have dramatic elements? Does late-stage life really become a hero story with a reinvigorated imagination? I have a feeling you might be getting too broad with your gestures here, but I think a refocus back to the main concept of play would help. I really do think it would serve to ground whatever you want to explore, and I think you need to be exploring what plays are to pass the gimmick test.

Not that an actual gimmick test exists. I think you know what I mean. And I know you asked for critique and you know what that consists of, but definitely just want to make sure I'm ending here with encouragement that a. I'm full of shit most of the time and b. I would love to see what you do with this further regardless because the central concept is really interesting to me.