Imagine going to an ivy League school and paying 10,000$ for a chat bot to teach you. What a racket
Or is 'the computer told me so it's correct' good enough these days?
The same way you determine if a professor is knowledgeable -- they are employed by a school with certain level of reputation that you are comfortable to attend.
A good university will be full of smart people, student and teachers alike. You essentially learn by contact. There are also rich and influential people, who can provide you with great job opportunities.
It all goes hand in hand: the brand, teachers quality, student quality, the infrastructures,...
Worse teacher may affect the brand negatively, the smartest students may want to go elsewhere, the rich, who want to be with the smart will leave too, which will affect funding, meaning less infrastructure and be less attractive to the best teachers and researchers. It is all connected.
ChatGPT4 is better than any professor I ever had and it is not even close. Not to mention, the professors are not the ones who are going to get much better and smarter as time marches on from this point.
I am not even sure the credentialism from the Ivy league is going to make sense in an AI world.
Jokes aside I'm sure our administration would salivate at deploying this for CS61A.