The only thing that is lacking from this almost free solution is what the higher education system has a monopoly on. A credential. An unbundled educational credential that people could use to get a better job would turn low or no cost higher ed into a reality nearly overnight and save us trillions in economic damage. It would turn education into a just in time product, something you engage with whenever you need it, wherever you need it.
However, there would be a cost. Wrenching change as technological innovation eliminates nearly every job in higher ed except those in the elite Universities.
Like the change in store for health care, banking, and other protected sectors, this change is inevitable. We can either mitigate the descent or suffer the effects of a sudden collapse of the system.