It matters when you think about scaling up to replace colleges. Put 5 million college students / year through that funnel and you won't have an educated citizenry.
No, but if you put 100 million students / year through that funnel, you'll achieve meaningful learning for the same 5 million students, with access to the world's best instructors, at a fraction of the cost.
And the other 95 million will get more exposure to knowledge than they had before, even if they don't take it to completion.