Another thing too is that once a degree is completely online, a school wouldn’t have to worry about geography or immigration/visa laws. Many of the Ivies/equivalents already have online/distance grad programs that they charge a premium for.
I think the first “elite” schools that offer completely online undergrad degree programs will be some of the publics that have a good international reputation in STEM. GTech and UIUC, etc. Maybe UMich/Cal/UCLA. Especially if immigration laws deter Internationals from actually coming to the US.