Distance learning: taken seriously?
My own experience of having an open university degree (computer science) is that "it depends on who you talk to". Some people value the degree highly, others put it at the bottom of the pile. I've found that the longer I've held it (ten years now!) the more value it seems to have accrued. This could be to the fact it becomes less and less relevant where your studied the more experience you build or the fact that it's become a more accepted route of study since I gained it.
Disclaimer: I work in academia, but am not an academic. I currently work for a big academic institution and they perfectly happy with my degree.
Distance-learning students report retaining and applying less than face-to-face students
Students overwhelmingly report retaining and applying less from online courses versus face-to-face courses.
http://74.220.215.89/~businfm5/wp-content/uploads/2012/11/2012-ABC-Waner.pdf
However, this may be due to a difference in factors other than distance learning.
Irrespective of why, there is an overall perception of lower value created.
Distance learning creates value, and may still be the best option for many students
Some students live far from institutions that offer degrees in their desired fields. Sometimes the closest institution of higher learning may be 100's of miles away. Even if there is an institution nearby, it may not be well suited to the students' abilities. Distance learning provides students with options they would not otherwise have.
Is distance learning taken seriously?
Distance learning is not as respected as face-to-face learning. However, it may provide credentials that otherwise would not be available to successful people who carry gravitas that they have earned through means other than that education.
If you want your education to be taken as seriously as possible, you should prefer getting your degree at a brick-and-mortar institution and attending classes in person.
If the institutional gravitas is of less importance than going through the course of study and earning the degree itself, perhaps if you require the knowledge gained or the credential on your resume to advance in your job, then the distance learning aspect is of lesser importance.
But should distance learning be taken seriously?
Some distance learners may prefer distance learning because of an inability to stick to the deadlines required in face-to-face classes, and perhaps they perceive the classes as easier to succeed in than a local school.
Others might not have local options available, or their lifestyle (perhaps as caretakers or providers) requires the flexibility that distance learning offers.
It is best not to paint all distance-learners with a broad brush. There is a great deal of heterogeneity in the distance-learning population, and although they have chosen to earn a degree that is known to carry less weight than a face-to-face, each should be evaluated on an individual basis, taking into consideration the reasons and circumstances under which the degree was earned.
It is true that open universities / distance learning institutions are not taken equally seriously, even if sometimes the work is harder due to the vast number of exercises. Still, in research it is mainly what you publish (and where) and what you are really capable of doing. In this sense, the sky is always the only limit a) if you have the ability and b) work extremely hard regardless of initial studies.
You are also too young to worry about PHDs, MSCs, since you do not know if spending your time studying is more fun to you than working and getting some real money from some real job (after graduating). So, do the best you can for now, keep your grades up and your eyes open and towards the end of your study you will know what you want to do. If you are really good, you will find your way.