This is a pretty good summary of the research on daycare effectiveness. It is a Much More Than You Wanted To Know-style post from a science blogger criticalscience who has some interesting posts on Medium.
TL;DR:
- Adverse effects on children younger than three years old.
- The effect is worse the younger the children are.
- The effect is stronger for longer hours.
- The effect is
weakerCORRECTION: worse for children from socio-economically better-off families. - Nannies are OK.
You are correct. The relevant section is this (emphasis theirs):
I correct the TL;DR.