I'd have to say that's just about the DUMBEST idea I've ever heard of. Learning by broadband? WTF?
Ditching textbooks is a horrid idea, especially for teenagers. Perhaps if they were doing this for 7-12 year olds where one can capture the curiosity and learning eagerness, this would work. Of course that's probably a bad idea as yoo would be training a next generation workforce, and it would look might bad if you were training a next
For teenagers who's primary focus nowadays is to look cool and fit in with peers, the results the school is looking for I dont think they will find.