It is very difficult to avoid exposure to the hype surrounding MOOCs. Whenever it pops up into my field of vision (at least once a day now), I yawn. I've been there before. A couple of decades ago it was the educational programming on interactive CD-ROMs that was supposed to revolutionize education and make teachers obsolete. Who needs teachers when disks filled with slick multimedia would lead a learner through the material at an individualized pace and path, and conduct assessments?
A decade later major universities and publishing houses were racing (to great fanfare) to build "virtual campuses" and provide online education to the masses of eager but remote students. Those campuses quietly folded a few years later.