Speaking from personal experience, my team has hired college dropouts who have turned out to be some of the best learners and problem solvers we've got. I have also interviewed candidates who seemed to be under the impression that their Ivy League degree entitled them to the position despite having no experience working on "real-life" projects to speak of. Candidates should never be discounted on the basis of not having a college degree. If they've got a strong application, the interviewer should be able to determine the rest of these more qualitative things over the course of a conversation.
On the other hand, if done right, college can be a place where some very intense, sustained personal growth can take place at a level which cannot be rivaled by supplanting it with e.g., taking a series of online courses. Taking advantage of the resources around you (seeking mentorship, research experience, forming study groups with colleagues, doing co-ops, etc.) can help put you far ahead of a person who pursued a self-study route in the same period of time. I agree that it is unfortunate that college is financially unviable for a lot of people who have a lot of potential. However, I don't necessarily agree with the people who allege that college is nothing more than paying for a piece of paper so that you can get a job.
It acts as a social filter preventing a large number of people from persuing a given profession that they otherwise could do just because their parents couldn't afford to rent a flat to their kid in another city for several years.
I don't think that there is any relation between the type of education that someone has (online vs formal) and a personal characteristic like perseverance.
There could be many people that could not afford formal education, learned online and are still perseverant. The two things are unrelated it just sounds like prejudgement.