Mr. Mom could supervise the virtual education, but it doesn't have to be tied to traditional "homeschooling" either, any more than it would be to "traditional" public education, though it will seem to have the elements of both. The idea is to radically change the public education model, so that "homeschooling" won't be really necessary, while most of the education will be done, physically, from home, but at significantly lower expense (hopefully, if done right) than either public ed or homeschooling today.
As for edX, it currently does not offer a degree, but a "certificate of mastery" or some such thing. Right now it is not worth a degree, but that will be solved by the marketplace. When an employer equates a certificate of mastery as being equal to a paid degree, then the upper level of education will be fundamentally changed.
Exactly, that will be and should be "solved" by the marketplace, i.e., the employer will start looking more at qualifications and knowledge rather than a "degree" knowing that they come from about the same places.
Ideally, you could get business credits from Warton or Harvard, engineering from MIT or CalTech, law from Harvard or Yale, etc. etc. and get the "mastery" degree that would, at least "on paper," supercede those of physical college student-attendee.
Internet may finally allow people to be free of tyranny of "physical" educracy and rigidity of schedule, place, time, limited [if any] school choice and curriculum selection, and so on...
I am now a full-time student at a private artist's atelier ( rigorous art training).
I am highly active in the art community in my state and region. I have spoken to many, many **many** artists who were thoroughly disgusted with the quality of their art training in their university and at the expense. Ateliers, not only in fine art, but other areas of study, seem to be becoming more popular. **Serious** artists are abandoning the universities.