The reason there is such a large premium for on-campus education versus online universities is because on-campus education is an experience as much as it is a service. If you're only interested in mastering the content, then online learning may be the place for you. That's why we see so many people pursuing online courses for their master's degrees and when they return to school later in life. They just want the cont…
I agree with your overall point, but one of the issues with online learning is the credential received isn't the same value as an in-person one. There are an increasing number of exceptions like the Georgia Tech online masters, but I'm not aware of a high-end online bachelors degree.
https://www.extension.harvard.edu/academics/bachelor-liberal...