I'm not sure offline certificates mean a whole lot when layoffs matter either.

But MOOCs and other purely online options just didn't result in any meaningful certification especially outside of a connection to established universities. And, given that, people/companies weren't interested in paying significant bucks for them.

It was probably a useful experiment. Just not a very successful one. And once the experiment faltered, schools/professors became less interested in putting money and energy into it.

All the evidence is that most of the students/potential students who weren't already motivated to pursuing independent learning didn't really connect to all this online material.