If you know mostly what you'd like to to, have a chosen path to get there, and time and $$$ to do it this model would probably work very well.
The problem is, I have NEVER seen that in my 15 years of developing. The technology landscape is constantly evolving, we need developers that know how to learn to do stuff ... not know how to do stuff. Assumptions and business requirements change, often daily. Developers need to communicate with businesses, persuade them to make good decisions (why I like developers with Arts and Sciences backgrounds). My guess is we'd get a lot more meaningless (not well thought out) stuff done which would buy us squat.
I don't want an army of semi-functional programmers, I want a FEW real developers.
I am in the beginning stages of teaching a lifelong MS developer and fanboy our Big Data environment. The poor guy basically needs to learn Nix, bash, sed/awk, SSH, cron, Ruby, MYSQL, EC2/S3 and Rails BEFORE we start talking about HDFS, Hive and Mahout. The ONLY thing I have going for me is his background in CS.