As someone that has been in the field of academia and private practice, I can tell you that where you got your degree does matter but only in the eyes of academics. For example, when I was a post-doc, I was responsible for admitting new graduate students that will work under me for 3 years (and my facilitating professor). When we met, we threw out all online applications due to perceived level of time committment. We weren't going to bring in and pay for students that aren't used to a rigid schedule. School on your own time is great, but not for grad school.
In the realm of business, our private practice (through the state of Iowa) just interviewed for an administrative position. The candidate that had the best resume attended school online through Auburn University at Montgomery. They obtained their master's there and they had a stacked resume in addition.
This is two sides to the same question but academics tend to look down on online degree (transfer credits are a whole different beast), but (I can only speak for our practice) we didn't look down on it for our practice.