labs have legitimate value, but lectures do not. why pay money to have some old guy tell me something that is already in my textbook. i slept through all the lectures and only came at all to know which parts of the textbook to read.
labs were cool. my senior project was to design a wireless circuit and i accidentally discovered that a much simpler circuit ( like 10 times simpler than the one i was supposed to build ) perfectly performed the task. i couldn't even understand how it was doing it but documented it, demonstrated it, and got maximum grade possible.
unfortunately there was relatively little of this type of lab work and it was always rushed with not much time to think about what you were doing. whereas lectures were many and long with plenty of time to sleep.
everything was backwards. you should read textbook first and then ask questions about it in class. instead you got lecture first, and then had to read textbook to try to understand the lecture.
and of course if you were to start your own school and teach properly you would end up like Socrates - obliged to drink poison.