One more point about the Bloomberg article raises pertains to the plight of adjuncts. Though SNHU’s online program was initially supported by adjuncts getting paid the usual pittance, it has generated enough revenue to hire full-timers to do more (and, hopefully, eventually, most) of the teaching. This may be a way to break the fatal logic of the adjunct dilemma as it exists at (solely) brick-and-mortar universities. Not only would schools have the resources to ensure that many, most, or all of their on-site teachers are full time, but now adjuncts could still teach part-time, but do so more comfortably, without having to shuttle from campus to campus, which is a major drain on time, money, and mental health.
Of course, the true adjunct dilemma is faced by the teachers themselves, not the administrators. My fellow blogger Dan Mullin recently shared his ambivalence about going back to adjuncting after a hiatus.