I think we're considering fundamentally different paradigms. In my education, there were effectively no assignments, and certainly none that could be completed online. Consider my senior English or Latin classes: the only "assignments" were to read, and occasionally to write, generally on a self-generated topic.

In class, similarly, there was very little pre-planned content. In Latin, we simply went through the previous night's translation, line by line, with discussion breaking out whenever someone was perplexed or intrigued by something.

In English, there was perhaps a bit more planned content, but not much: the teacher would have something to talk about, and start out talking about it, but within 5-10 minutes we would have moved out of the prepared material into our own discussion.

Now, in the sciences, yes, there is definite content, and there, surely, there would be value in a central content store, but it would need to be developed outside the institutional structure, or your 2) would rapidly become 1). (Yes, I'm a bit jaded: I went to an amazing program, but it was housed at a horribly administered school.)