Just joined a discussion about graduation rates in the context of MOOCs
http://blogs.reuters.com/reihan-salam/2013/07/26/online-education-can-be-good-or-cheap-but-not-both

Here is my view on this
Online (which I prefer) or not online, in my view students need
"great deal of personal attention and hand-holding"

In a world that is becoming more complex every minute, students want and need orientation, structure and a mentor who helps them understand.
In this world I myself would greatly appreciate to have someone like that ... so I am not doubting this need of students.

How can this be delivered?
f2f, blended and online - costs accordingly.

I think that the Internet of Everything could be a great help delivering help, answers to questions and motivation to keep on learning if dosed correctly for each type of learner.