In the public's mind one goes to an elite institution for access to elite education, but, with everything being free and ungated, there should be little meat left to support that argument. I realize it's not a fresh hot take, but until recent it was still plausible to justify the high prices with the excuse of learning. Don't think that will fly for much longer.
I wonder if they could get rid of the antiquated teaching portion of universities altogether and just keep the "gated access exclusive club for people of your social or cognitive tier" portion of it. It's somewhat of a YC model too. There's some pedagogy during the batch, even though nowadays so much of their great content is on YouTube, but the value is mostly in everything else you get.