> The effect would be these students would not opt for these courses. For majority of these students the main attraction is employment in USA, for a small subset experiencing American culture. In absence of both of these there is no reason for students to take online courses from American Universities.
Keep in mind that this is expected for 1 of at least 4 years of undergraduate, or 1 of 2-5 years of graduate, education. Someone's still going to have plenty of time living in the US and interacting with potential future US colleagues.
(I'm accepting at face value your assertion that signalling provided by a degree from a US institution has ~no value. I don't think that's the case, but my comment above makes that question close to moot.)
Keep in mind that this is expected for 1 of at least 4 years of undergraduate, or 1 of 2-5 years of graduate, education. Someone's still going to have plenty of time living in the US and interacting with potential future US colleagues.
(I'm accepting at face value your assertion that signalling provided by a degree from a US institution has ~no value. I don't think that's the case, but my comment above makes that question close to moot.)