Given everything that has been happening with online learning and universities being poorly prepared for that, would one consider a MBA less valuable?

Value is relative. Top schools provide access to networks, resources, opportunities you wouldn't otherwise get in most circumstances. All top schools are going through this virtual situation together, so value relative to each other remains the same. Most of those schools have transitioned just fine. As a current Haas student, sure the experience isn't great, but I'm still learning and growing. The uncontrollable variable is the economy and job opportunities.

The value has definitely gone down. Companies are cancelling internships and classrooms are virtual. Why would you pay $200k for online classes which lead to having an offer rescinded?

@pwc1 fair point but as of now predicting the future is baseless. Yes we know things are going to be Rocky going forward, but I can promise you that, depending on your pre MBA starting point, the program and resources could be hugely valuable to someone trying to pivot. Graduates next year are in decent shape and then 2022 even better shape. I say go for it. Furthermore: I'd rather be sitting out the labor market right now, coupled with learning, education, and networking designed to spit you out as a leader on the other side. It's a great place to seek refuge and observe