There seem to be a lot of efforts like this. Carnegie Mellon has a major one going, their Open Learning Initiative: https://oli.web.cmu.edu/openlearning/
It remains to be seen how these types of programs will integrate with the in-person offerings of elite schools. At some point, will you be able to earn a Harvard degree entirely online? How would the online experience have to be structured to make it as meaningful as the classroom experience? (Though I guess I've had a lot of classroom experiences that were far from amazing.)
Where's the pricing sweet spot? It would have to be cheaper than the cost of doing the coursework in person, but presumably would still require significant cost for faculty/student interaction, technology, etc.