To be honest, college was pretty much useless from a social/networking perspective for me. Dev & other social meetups, working and so on have been significantly more useful.
I had a commuter college experience and I bet unless you have the social skills, fortitude and setup (such as living in dorms) to take advantage of the social benefits of college, you wont get many social benefits out of it.
I would agree in that college was useless from a professional networking perspective (moving to a different state compounded my issues).
For me college was primarily personal social growth, professional credentialing, and educational support network. I think the last two of these can be offloaded to the internet for any abstract subject (not anything that requires creating a physical artifact instead of a digital representation).
I had a commuter college experience and I bet unless you have the social skills, fortitude and setup (such as living in dorms) to take advantage of the social benefits of college, you wont get many social benefits out of it.