A couple of years ago I did a distance learning course with the Institute of Education at the University of London. It was a thoroughly enjoyable experience over three years, using Moodle for the taught elements, but relying on traditional exams for the end of course assessments, and a research-based dissertation. It was affordable, and I felt it was well worth the expense for both the qualification gained and the enjoyment.
In fact, I enjoyed the course so much that I looked into the possibility of doing a distance learning doctorate, only to be deterred by the astronomical costs: GBP 18 000 for 1 course I looked at; USD 54 000(!) for another.
The obvious advantage of moocs is the affordability. The knowledge gained and, I hope, the enjoyment of continuing one’s learning should be common to all lifelong-learning projects. From a cynical viewpoint, the qualification gained at the end of the course is not going to add too much to a CV. Perhaps in an e-learning future, though, learners will be able to present the courses they have completed as valuable evidence of continuing professional (or just personal) development.