One downside. The wealthy (like the Gate's) will have a harder time signalling their wealth if their children don't matriculate in a prestigious academy/school

One downside. The wealthy (like the Gate's) will have a harder time signalling their wealth if their children don't matriculate in a prestigious academy/school. Will Gates refuse the high priced tuition at Harvard in favor of a free internet school? Or more likely, he'll simply augment his children's already (probably) incredible education with some online lectures. I don't think Harvard et al are in any danger yet. Too much vested in the current status quo. Again back to the social signals, a cocktail party, were did you go to school, etc. Unless you are uber-rich, this is important.