They will eventually come to the conclusion that videotaped lectures of excellent quality should be the method. The Great Courses company already follows this model in marketing lectures on many topics. They do not market themselves as any sort of "college" -- but some system of formal education should be set up where students get serious quality at a low price.
And, to state the obvious: Once you have a truly excellent teacher present a really thorough lecture series on (let's say) Algebra II, or Causes of WWI, or whatever -- once that has been filmed, then you are done with that topic. For, maybe, 50 years. It's all free content after that. No professor salary, no tenure, no nothing.
You want to get rid of the student debt problem? Videotape.
Of course some live interaction between students and low level faculty would be needed, but no more Professors making $400,000 a year for teaching 1 class.
I have been teaching online college courses since 1994, when the course was all text and on a BBS with a dedicated 2400 baud modem.
There is an ENORMOUS difference between a course that is designed to be taught online and a course that is designed to be taught F2F and has been moved over to Zoom. Colleges that have concentrated on providing online courses over the last decade or two understand this: Maryland, Penn State, Baker College, Hawaii Pacific, Excelsior in NY, and a number of others.
On-ground college students are on-ground for a reason. Students who take the majority of their courses from an online college are generally more self-motivated, and understand how to relate to other students from around the country, and professors who put in much more time per course than walking into a classroom and lecturing.