Virtual Universities may be the vehicle to provide low cost life-long education to the students of the world. The issue of quality of the offerings is moot because the market will decide which offerings survive.
Students are the best arbiters of what they wish to learn.
Those who select foolishly will not obtain marketable skills. The market place of jobs, entertainment and production will determine which classes are pursued and which wither from a lack of interest. Some Universities have forgotten that education is a dynamic and interactive process. The individual who wishes to educate himself by using the resources that are available on the Internet does not need professors and curriculum guides. The life-long learner that everyone seems to wish to develop does not need to attend an accredited university to become educated.