While the use of MOOCs to replace large lectures and focus on one-on-one and few-to-few interaction is eminently logical, this is something that's arguably been an option since the widespread availability of VCRs.

I'm not quite ready to pronounce the death of MOOCs in the transform college education as opposed to a new form of vocational training yet but IMO we're pretty close. Whatever impact they've had on overachievers who may or may not have had access to traditional higher education, they have failed to broadly change education in any way and the major VC-funded examples haven't succeeded financially.