What if university endowments were used to fund research and implementation into ways to drive down the cost of education to zero?
For things like CS, sure - mostly. Excepting for slightly niche areas like embedded programming, you can achieve similar experience for $0.
But for most other [engineering] degrees, this isn't true. You can't tape out a custom integrated circuit (IC) for free, but this is something some EE undergrads get to do at brand-name universities. Even the licensing cost of the software used to design those ICs can reach six figures.
I imagine there are similar things with chemistry, material science students and especially medical students.
But yeah, even in those other engineering fields, the internet has reduced the cost of education.