I've said this elsewhere. Good lectures, even good exams, must be matched with good projects and discussions with peers (refereed by a deeply knowledgeable teacher). I wonder if a cottage industry of local study groups will form around these lecture sources. Perhaps Udacity could even spearhead the creation of these and offer some kind of certification to vouch for the local teacher.
Then you have the best of both worlds: an internally consistent curriculum with good lectures and digested information paired with one-on-one instruction and project development / discussion which will serve individual students in their own unique ways.
I know of a grad CS course that is essentially doing this. Students watch the lectures and help each other out, then supplement the course by presenting papers and aiming to have project ready for publication by the end of the semester. It's a small course consisting of grad students and upper division undergrads. It will be an interesting experiment.
But I think this is a great model, in my experience state schools tend to have pockets of really bright students that can easily out preform the quality of the teachers (certainly not always the case). There are huge opportunities to improve public higher education in the US
I think community based schools will start cropping up. They'll align with some subset of online course material and there might be a local teacher to help coordinate but otherwise, it's the students themselves helping each other. The local tangible presence would not only allow for that interaction / project based element I'm so fond of, but also to help pool resources for equipment.
If we're going into this brave new world of private, decentralized education we may as well do it in such a fashion that your own financial status doesn't prevent you from participating.
Then you have the best of both worlds: an internally consistent curriculum with good lectures and digested information paired with one-on-one instruction and project development / discussion which will serve individual students in their own unique ways.