Well, there are some consequences we must consider.

Foreign student populations contribute a great deal of money to Universities. It is typical at many private institutions that foreign students pay 100% sticker price.

If that institution goes full online, many international students may be unwilling to give up their immigration status and transfer. Likewise, institutions with large immigrant cohorts may be pressured to remain in-person to retain these financials (compounded by the fact that they are financially struggling as is).

Similarly, access to broadband is often taken for granted in the United States. You cannot guarantee in other countries that you will have sufficient access to fast and free (as in unrestricted) internet access. At which point, you simply cannot remain enrolled at your current institution. (Essentially you would get deported, and lose a year of your education)

The social issue of immigration aside, I think in economic terms this could be pressuring universities, and in perhaps the wrong way.

Well it means if Harvard goes through and is 100% online it won’t be able to have international students attending from the US. So it is essentially forcing universities to have at least a hybrid schedule (universities won’t pass on the nice 100% sticker price tuition paid by internationals).