Tom, there is much more to the job industry than simply having experience! You can do something, but you also need to know what your actually doing! I can teach someone how to fix a car in a 3 hour course, but with a longer time, I can teach them why the car needs to be fixed, and how each step in the process helps in such a matter. Your college would only take people with experience, which means that everything you can teach them in 3 hours they already likely know, defeating the purpose of your "college".
The reason places like Harvard are highly regarded is because they have reason to be. Their students learn more in their time there than you can teach them in a 3 hour course. Students go there to learn and develop a future, not just to get a quick degree.
If I were an employer, experience would not be the most important factor. I would look at the degrees, where they are from, and how far the person worked for them. Yes, I would look at experience, but I want to make sure the person I am employing knows why they need to do something, not just how, and the real college course takes the time to explain why. You cant teach the full "why" in a 3 hour course. You can't.