And the pendulum swings back.
While there are differences, fundamentally the proposition of mentors, internship-based learning, and living on site is not that different from apprenticeships. There's a wider exposure to ideas, perhaps (because maybe you jump between internships instead of staying with one), but at its most basic level the proposed idea is training people to do jobs instead of trying to expand their thinking minds. Yes, there's lip service given to seminars, but it's evident in the quote (“Traditional universities… list the Nobel laureates… ours… would list the… entrepreneurs, inventors, and executives”) that academics are held in a certain amount of contempt.
Let me be clear: I don't think there's anything wrong with this vision. This approach would probably be a success. It may be needed. The problem is this: somehow we mutated universities into a place where everyone goes in order to get a job. I think we benefit from having more people being educated at a university level, but that benefit is not purely practical. I don't think the point of getting higher education is getting a job. I think it's an extension of the same reason we go to school: because an educated population drives knowledge further. Because when a large part of the population gets a Bachelors of some sort, they can reason better. And because when there are more people at that knowledge level, a larger part than before gets a Ph.D. And that helps society and humanity move forward faster.
There's a tension right now between the university as a place to expand your mind and learn for the sake of learning and the university as a place where you prepare for a job. I think it's a good idea to play with that tension and that balance, and see what balance leads to better results in what way. But I think there is absolutely a place for universities as they are today, and I think their existence is part of what has driven us forward at the frenetic pace that we have seen the last several decades.