I don't think we necessarily need to duplicate to replace, nor do we need one unified replacement.

How one receives an education might be tailored to the use the education is intended for. If it's for work, it might be done by the employer, rather than the employer getting recruits trained at a school prior to applying for a job.

Face-to-face education is already being done by tech companies that currently have to train recent college grads from the ground up. Elon Musk has expressed interest in skipping the 4 years at college and just starting with training as things are done at Tesla.

Face-to-face training has always been the way in the trades - electricians, plumbers, carpenters, etc., learn via apprenticeships.

America also has a tradition of adult education and educational lectures that were entirely outside of the academic structure, just for personal edification. For example, companies in the mill towns in Massachusetts would offer classes and lectures to the young girls who worked in their mills. Lecturers and debaters would travel the country, appearing on stages in all sorts of communities.

Livestreams are probably not appropriate for grade school kids, but for adults who share an interest in, say Bronze Age mythology, or fractals, could unite people of shared interests in dispersed locations.

By assuming that academia is the best or only way to educate the youth, we give academics and administrators too much power.