Bill Gates: Forget university, the web is the future for education
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The University experience for many (in my opinion most) is more than just learning, it's also about social networking, activities, etc ...
Most people still meet in coffee shops, club and sports clubs not in chat rooms
Talk with interesting people in your regional Network. And if they/you are really interesting you'll meet and make things together.
And as you said most people meet in coffee spaces, but the arrangement of the meeting can be done anywhere else and not only in University.
What instead is already evident is the success of web-based courses not related to degrees, small packeted courses on a single subject that target young or not so young adults that want to learn a new language or other stuff. As you know there are a lot of interesting start-ups in this area.
University aught not just be a means to an end but a pretty good way to spend the present.
From its inception in the '60s until a few years ago, all their lectures were broadcast on late night and Saturday morning TV, so anyone could watch high quality education for free well before the Internet.