Without these features, the Internet is just a fancy telephone. I cannot imagine an 18-year old starting an academic career in Anthropology, Philosophy, Literature, Psychology, Astrophysics, Genetics, Medicine, Law, or even Computer Science online. Remove the campus and you have removed the culture. The reason a Harvard degree garners such respect is because of the people with whom the student will be interacting. Having obtained his or her Bachelor's degree at a fine College, a student is a changed person.
College life is like boot camp or an apprenticeship.
Close interaction with professionals in the field and other students with the same motivation forms the character that one carries forever. If my model of Internet use is implemented, then the Internet will be more than just a communications device for professors and students. It will be an intelligent agent helping a student dig through the fog of knowledge. It was daunting and often you simply did not have the resources to do an exhaustive search. As a result, your research was weak and your understanding incomplete.