The problem with that is, college teaches a lot of things that are not directly related to core technical competencies. It's very easy to learn programming on your own these days, sure. But it's a lot harder to learn public speaking, finance, management principles, marketing, college-level reading and writing, technical writing, time-management, political science, biology, physics, and all of the other stuff that you're taught in college.
Going to a university or a college, I think, is still a very important thing. It's not worth the money right now, which I hope will change, but I know a lot of smart people who didn't got to college, people working in many different diverse fields, and it's almost always possible to tell who did and who did not go to a university. Do you want to be laser-focused on just being a programmer, or do you want to have marketable skills outside of a pure technology focus?
To put it simply: it's easy to learn how how a computer works and how to program it to work for you. It's much harder and takes much longer to learn how the world works and how to make it work for you. For 99% of the corporate/enterprise jobs people will end up working, being the best programmer is the world is far less important than every other skill you learn in college. If we do away with traditional universities, we need to find a way to replicate that other type of learning.