With a lot of budgetary issues in today's economy, I find it hard to believe that school officials & administration will actually pounce on over-priced solutions to allow a lot of students (figure between 1,000 and 4,000) to take lessons online rather than canceling one day of school.
Similarly (as other comments have outlined), they're going to run into a whole lot of issues with lower income areas that do not have access to the same resources and higher speed connections that a lot of more privileged areas have.
To actually outline the changes that would have to happen in order for this to be remotely successful could easily fill a 5 page document - the problems with it are huge. I don't see this happening for another 10 or 15 years, at LEAST.