What about those students who don't have stable home environments? How are they supposed to find multiple hours a day to watch lectures?
How does this address the underlying issue of students off loading work? You've replaced homework with lectures, but haven't solved the problem of making sure the student is actually participating.
Logistically, this could only work if you shortened the school days, but then you would need to adjust the rest of society around that. Many parents structure their work days around their kids school schedules, and if kids need to go school later in the day, or get out earlier, that places a burden on the parents.
For secondary school, I do agree with you - homework load can be problematic for some students. But at the same time, my honors classes all came with hours of homework and I’m not sure I would have been as prepared for uni without it.