Not a problem with it for me, but I think it should stem more from friendship as opposed to looking online for a relationship, I'm not quite sure about my reasoning for this, maybe sort of the idea of it being "easy" online to find a relationship is a little bit undermining.
I think one of the key things to get out of peoples heads can be that the monitor is some sort of disguise over everyone. Sure, some people can use it like that, you can't establish tone or see body language from the internet, but I think if you go on the right sort of sites and be a little bit careful, then there is no reason why you can't make some good friends on the net.
On the subject of never meeting them, erm.... at what point does this constitute a relationship? I would hate to speak for everyone else, but just saying "Oh I'm in a relationship with this guy" does not make it true, the furthest you can push it to is that you are their friend, I have made a few friends on the net, from various places, I have never met anyone from there (mainly because they are from other countries), but I know they are genuine enough to talk to and stuff.
If people start saying they are in a relationship with someone they met online it is a complete lie, what sort of fun are they actually having, do they actually get gratification from it? Do they see a long term future? So, all in all, I will conclude that the title in indeed an oxymoron, as my view of what constitutes a relationship, does not coincide with it being solely via internet, keyboard, mouse and webcam.