I heard Khan say recently on the Colbert Report that he read the Wikipedia article on the French Revolution as his source before making his video on the subject.
That's fine for his purposes, but somewhere up the information food chain someone must actually read the sources, weigh them, interpret, compare, and do all the other work of understanding and transmitting history. It's hard to imagine that those 'educated' by Khan can take up this work, or if they do, that by the time they become competent, they will regard his videos as anything other than inconsequential in their effort.
However, I do think it's overblown to say that Khan is any more dangerous than Cliff's notes or similar supposed shortcut to education. And I suspect his math and finance videos might be quite good, based on the response, and on the fact that he actually spent time in school learning math and finance. (But I haven't watched them.)