It’s way past time to marginalize the universities. Online interactive learning taught by private sector people for a fraction of the price of a university indoctrination is one option. There are plenty of very knowledgeable, real-world experienced people in our nation who would be happy to give periodic lectures to students via Zoom or similar mechanisms. They could be paid per lecture.
For example, there are probably many mechanical or electrical engineers from the private sector who could teach engineering - with real world experience backing their teaching. There are tons of other professions for which this would be true.
I think, additionally, apprenticeships work very well.