Earlier quoted context omitted.
Everything that you just listed is basically how our current system works. Accredited institutions can issue degrees if you pass their courses. There are various "grades" that bucket people, but as far as getting the degree goes, you just need to pass. Grading is at least ostensibly objective. Admissions to accredited institutions is selective, and colleges compete with one another for students. The only two differen…
OK, let me try again. I'm the accrediting institution. For my degree in physics, you have to pass this online class on electrodynamics from MIT, because it's the best one there is. And you have to pass this other online class from Caltech on special relativity, because it's the best there is on that. And so on. The "accrediting institution" doesn't need to own any of the course content. It can take the best of the on…
I'll risk sounding like an asshole or making an ass of myself and just straight up ask: Have you ever taught before? Somewhere other than a top ten CS or ivy league university?
What you're proposing sounds way more expensive than the status quo.