Resurrecting this thread since another hammer might be about to hit UNC.
@jaybate-1.0 What you're asking (what level of work is required for credit) varies by program, institution, regents, federal guidelines, and --MOST IMPORTANTLY--by accrediting body.
In UNC's case:
SACSCOC Credit Hours policy (pdf) ↗
If a "University" wants to offer classes that don't ever meet and don't require any coursework, they could certainly do that--diploma mills aren't illegal. But any D1 school (especially a flagship research 1) would jeopardize everything--accreditation status, academic reputation, grant qualification, and any kind of public funding--by not meeting an acceptable level of academic rigor. It would be a dead end strategy. Why would a student want to PAY for those classes? Who would hire those graduates? (other than athletes and professional sports leagues of course)
Disclaimer: IANACPBIDSWOLN (I am not a college professor, but I did sleep with one last night.)