A PhD is about your research and publishing far more than your actual degree. I can't see how an online doctorate would work with today's remote learning options so would not imagine it would have much value
I totally see this viewpoint for Tech/Bio/etc R&D and teaching...but I'd love to hear whether this viewpoint applies at organizations which uses PhDs just as an entry filter.
So many people I've worked with both in Gov/Intel/Finance had random PhDs.