This might be heresy here on HN, but I think that there is more than accreditation paperwork at play here. I think it remains to be proven whether a MOOC actually does deliver an education that is on par with what you would get from attending a 4-year CS degree program at a college or university.

MOOCs are new and exciting, but they're also new and unproven. Accredited bachelor degrees are valued because they have a long history of delivering value. MOOCs do not.