I would say that traditional schools (especially state schools) carry considerably more weight and legitimacy than online schools.
This may change, but, I would definitely say that right now, it's a lot easier to get into an online school than it is a traditional school. This is correlated to how a hiring manager would perceive its value.
Frankly, if I were a hiring manager, I would be more interested in what skills and abilities you could contribute. Education would only matter me if it were relevant to the job that you are doing.