It would be hilarious (at least to me!) if all Universities suddenly did this due to the outrageous pricing. Or, and this would be an interesting turn of events, they demand that they be paid for supplying free labour. They could use that payment to purchase access to the journals.
It's time for commercial publishers to realise that they are getting a free ride, and that the free ride is ending. They might complain, but the only ones who they will be able to blame are themselves for their predicament.