As least in Scandinavia, we don't feel MOOCs are a huge threat to us, because there is no tuition, so there is no real financial reason for students to prefer MOOCs. Maybe some will out of personal preference, and some might take some extra MOOC courses as enrichment, but it seems unlikely that most students will choose to forgo a university degree. Therefore they will probably damage U.S. academia but not ours.
If so, is this an opening for Europe to take over world leadership in academic research, through a mixture of internal cultivation and hiring away distressed American faculty? The recent addition of English-language degree programs (and increasing internal use of English) removes some of the practical problems that used to be in the way of doing so.