This is an interesting approach, and I've had several engaging conversations with OP John Duhring. But I think that MOOCs are media and I'm just not sure that media is the way forward. John's focus on educators is spot on but, unfortunately so is his comparison to collegiate football. At UNC this hits home due to recent academic scandals and the increasing autonomy of the athletic department. If there were to be a MOOC department at our school, could we really be confident that it could stay aligned with the mission of the university?
I think the way forward has to be thru open content, and for this we should look towards open source software for inspiration, not broadcast-style media. Even though the monitization of this new media is through certification rather than advertisement I'm not sure how the industry's interests stay aligned with those of profs and students.