It really depends on the subject matter and the institution's focus (and tier). For disciplines where foundational knowledge remains relatively unchanged (say, Latin) recorded lectures could be an efficient way to disseminate information without requiring professors to repeat the same material. A "flipped classroom" would offer opportunities for more dynamic interaction and deeper understanding, and of course this would cost money.

However, as a professor myself in a rapidly evolving STEM field adjacent to AI, I update at least 20% of my course materials each year to keep pace with new developments. As it happens, about a third of the new content is derived from my research group's latest work. Recording lectures isn't a one-time effort; it would require constant updates to remain relevant (and let me tell you, if you want to get the voice-over right, it is a lot more time-consuming and soul-crushing than simply turning up in class and giving a live lecture).

The value of live lectures goes beyond just "transmitting" content. They offer real-time interaction, immediate feedback, and dynamic discussions that adapt to the students' understanding. This level of interaction devilishly difficult to replicate in recorded formats.

I would ramble on more, but I need to return to the lecture materials I am developing for this Friday on Vision-Language Models :P

Watching non-interactive lectures is a small part of the overall experience. I'm not commenting on whether the experience is 'worth it', but assuming the only thing people get is the ability to watch lectures doesn't make the point.

A big part of it is having a long-term peer group of people who were disciplined and motivated enough to get into MIT and succeed there. Arguably true for any university. We're products of our environments, and if you surround yourselves with hardworking people it rubs off on you.

On the other hand, many people act like "talking to professors over beer" (or to your classmates, for that matter) is supposed to add "value" to the college experience, when it's perfectly possible to get at least a bachelor's and a master's without ever doing that (source: I did).

Two people with the same GPA and same piece of paper from the same college, may have gotten different amounts of lasting value from their college experience.

Why should people be compelled to provide education for free? Compelling work without compensation is slavery.

Its not the lecture thats valuable. Its everything else. Particularly research opportunities. That’s how you get really solid in your domain. The difference between a student who only took class in the subject and a student who applied those concepts in a lab environment to make contributions is staggering. Its like the difference between someone who watched a video on engine maintenance and someone who has not only watched that but has been rebuilding engines themselves for 2-3 years.

Is this a Good Will Hunting reference in disguise?