I agree with you 100%, but MOOCs aren't necessarily the only option for educational innovation. The idea of Minerva (students still live together, but the university moves around the world) sounds interesting to me, even though it is not at all less expensive. These sort of things were never technically possible until well after the university system became entrenched. Another option is internships or entrepreneurship, what the Thiel Fellowship encourages. Chris Olah is a employee of special note at Google Brain. He never finished college, and he had the smart idea to basically reinvent scientific publishing.