Right. In the computer field, for example, private "institutes" offering "post-graduate diplomas" are a dime a dozen, in every city, in the downtown as well as suburban areas. The standard signboards or ads for them show that they teach "C/C++, Java, .NET, web design, ASP.NET, Oracle, AutoCAD, HTML/CSS/JavaScript, ...". And it's mostly former "graduates" of the institutes that do the teaching, with no real life experience. As for the virtual version of these, I regularly get contacted by training companies (middlemen) for conducting courses for clients on Python, Linux or other skills I have. Many of them turn out to be shady in their practices and I have to fob them off.
On the other hand, I've done a few certifications in my day but mostly to force myself To learn something. I usually leave the certifications off of my resume because of the stigma. I will talk about projects that I've done using the technologies.
That being said, I just got my AWS Architect Associate certification this past weekend. The entire journey of me getting it, wasn't about the certification. I already had a job and probably by the time I am looking for a new one, I will have to renew it.
It forced me to learn about platform that I was just starting to build on and I was able to talk the talk - that's very important when you are an "architect" by name and/or responsibility.
In 2009, I did the same thing with respect to the MS architect cert - I took 6 tests got the certifications but by the time I was looking for a job, I had let them expire. I was transitioning from being a C/C++ bit twiddler to being an "enterprise developer". It forced me to learn about the technology.
In both cases, the certifications were about learning, not the certifications and in both cases, I was able to apply what I learned on the job. I put the projects on my resume - not the certs.
I would say the same thing about the Coursera certs. If they force you to learn and allow you to apply that knowledge to a real world project, preferable on the job but at least with a side project, it doesn't hurt.
It's a lot like when I was training to run a half marathon. It wasn't about the race, it was about the training. After I did them two weeks apart, I was never motivated to do that distance again.
People who are desperate have no interest in free thinking. Their goal is to escape. That's it.