If you agree that "time is money" then you can consider a MOOC completion rate equivalent to an SAAS conversion rate, in which case 4% would be pretty good[1].

I find it odd MOOC's are being held to such a high standard, when the status quo alternative is failing so hard [2].

1. https://www.quora.com/Business/What-is-a-typical-conversion-... 2. http://www.washingtonpost.com/blogs/wonkblog/wp/2013/12/30/p...