I don't know about that. I am a believer in the multiple intelligences theory in education, there are different ways of learning and thinking about information that is presented, the intelligences if you will. Some students are much better suited to learning through internet related content. Other students need an instructor there to ask questions throughout the process. Some students need to be able to use hands-on methods to learn the subject matter, others can just read the textbook and figure it out on their own. We all have different learning styles. I personally do learn well from audio and video sources, I had a professor this semester who was terrible at learning from lecture, audio, or video, he needed to have it written down so that he could read it and refer to it later.

I think that internet resources are a great thing to use in the classroom. Music education (my field) has been greatly enhanced by new resources available through the internet. I do not think, however, that an education system based entirely on internet related content would be any more effective than our current system, because neither effectively addresses multiple learning styles consistently.