Compared to many of the people reading this, I've not participated extensively on LessWrong. In fact, I created my account only about a week ago. That said, I have read many LessWrong articles by contributors such as Eliezer, Jonah, Yvain, Gwern, and many others (if I missed you, my apologies). I wouldn't say it was a huge transformative experience. But I have probably learned a bit more from LessWrong than I learned sitting in on a class by Nobel Prize-winning economist Gary Becker on human capital (without formally registering for the class or doing the coursework). I've learned more of value from LessWrong than all the MIT OpenCourseWare lectures I've consumed. There are a few online experiences, such as reading EconLog, that have been more educational for me than LessWrong, but I can count these on the fingers of one hand.
Some of my friends have claimed that reading LessWrong systematically (and perhaps participating in the comments and attempting to write posts) would generate more value for an undergraduate than a typical core college class (with the possible exception of technical classes specific to the person's major or area of specialization). I'm curious about whether readers agree with this assessment. Do you feel, for instance, that LessWrong provided you with more valuable human capital than your introductory general chemistry sequence? What about comparing LessWrong with an undergraduate "intro to philosophy" class? Or an undergraduate intro class on the history of economic thought? At what percentile would you rank LessWrong relative to your college classes?
A second related question is whether there's a possibility of building a college course -- or college-like course, perhaps a MOOC -- specifically revolving around mastery of the content in LessWrong (perhaps starting with the Sequences). Would such a college course be possible to design in principle? How would such a college course compare with core requirements for undergraduates today?
What sealed my decision to spend my last two years of high school at the state Math and Science school instead of the same public high school I'd been attending was the realization that I was learning more from the internet than I was in classes, with the exception of a few chemistry concepts that I never thought of looking up.
When I graduated, I realized that even the Math and Science school didn't catch up with what I'd learned from the internet until the final semester. I'd still say it was worth it, and I decidedly did not optimize (mostly because I was still thinking of science more as "stuff scientists discovered" than "an insanely useful method that you should pay attention to outside of science fairs"), but college? Not so much. There were benefits, sure (I think the main one Crux left out that I completely failed to even try at is networking with professionals in a broader sense than work experience), but the most important things I learned while at college were things that came entirely from the internet or experiences on holidays. There were quite a few things I stubbornly tried not to believe (mostly things about human psychology) that were thoroughly demolished by the internet (especially when I finally got to LessWrong, but by then it was a bit late and I was already in the "No, I'm not doing this anymore" phase of college.).
In spite of all of this, I'm still frustrated with my timing; college really could have been an outstanding opportunity had I, say, read the sequences a year earlier. Attending college is an incredibly easy way to access resources like labs, equipment, experts and cheap labor (especially if you can turn a project into academic credit, which I totally could have at my college; I would have gotten credit for this terrible virtual series had I just finished the blasted paperwork. (*mumbles something about a RATIONAL! rewrite*)). For example, when it manifested that Senseg might have been overly optimistic with their predictions on getting their tactile technology on shelves early in 2013, I found myself frustrated that the technology is so simple that I could toss together a simple example over an afternoon if I had any of the resources I had since my junior year of high school, but I wound up not learning about this until the cost of going back was way too large for way too small a benefit and my resources had largely dried up.
So I absolutely agree: you can get a college education by only taking courses with Dr. Google. Other professional goals, skills, or structure-based needs might be satisfied by college, but there's no point in spending thousands of dollars just for the data in the courses.
As you pointed out earlier in your response, Internet learning (and LW in particular) could have been particularly useful before attending college. I would go one step further and suggest that attending college and learning from the internet should not be mutually exclusive for those who are interesting in learning and making a potential college social life trade-off.
I currently believe that most students attending college realize that the degree itself is of primary signalling importance, even if they're not able to explicitly articulate why.