You don't need real computer science theory until you're already a seasoned programmer, at which point you need a refresher anyway. Beginning programmers spend more time setting up environments and breaking down poorly written requirements, than traversing binary search trees by hand.
I wish someone would have explained to me what it's like finding work in CS before I took the degree, how "entry level" positions can often mean 4+ years experience, how Interview questions often have little to do with the job and everything to do with memorization.
Going to school to become a good programmer is wasting money. Going to school because you want to work a field that rewards having a degree, and starting relationships where someone is waiting for you to get your degree and hire you when you finish, is smart.
First year students: go talk to your lecturers, starting from your first semester!
I am asking to see if your comment is geared at the specific program, or if you just don't give any value to getting an equivalent degree via an online platform?