The large group lectures I've always felt were a waste of time. The lecturers just explain what's in the book anyway and most of them, except for a few natural talents, are boring as hell. And I always felt I read faster then they speak.
Most university lecturers hardly get educated in how to teach, and most of them also don't care, the consider it the duty of the student to pay attention. A lot of time and money could be saved to move many of the standard curriculum to a online video / textbook course.
I feel like the true value is in the smaller work groups where one gets direct feedback on your work. This is something that the online universities are not able to recreate. And of course making friends, discussing, building a network, having time to think, sports, hanging out.
So a hybrid might improve the quality of the courses while giving a chance to optimize the offline experience.