I think its important to distinguish that a lot of EE, biology, or physics classes could moved into an online format because not all of these classes are labs. The demos would be easy to replicate just as part of the videos of the lectures.
Maybe this will create a large demand for amateur level/mass producable/cheap lab equipment and that would eventually lead to a situation like PC vs Server where even top notch servers are ~ comodity hardware on steroids. This would lower the barrier for innovation significantly.