I think this is generally the correct direction for education to take. The dissenting voices mentioned made some good comments though. But I think each of those concerns can be addressed through proper program design. Learners should practice skills they have already learned, and they should be re-assessed on those skills periodically. Some topics, especially in the humanities, will require classroom discussions to really master. And if it saves money, all the better- as long as it works :)
However, I will echo the common sentiment that college readiness for 100% of students is neither achievable, nor a desirable goal.