I think what killed all MOOC learning was that they ALL saw this giant TAM for corporate training and thought.. we have to get into that market.
That is what hollowed out the value.. all the incentives are inverse to building long term value.
Everything becomes check box driven product development to close the next "big deal" and then no development is done to really enhance the core of the system or the core value to the learner. It becauses now it morphs into can we show value to the clients/decision makers/learning admins?
I largely disagree. If you look at the people involved (and what they said at the time), I think there was a legitimate "We can rethink higher education" which obviously didn't happen for a variety of reasons.
It mostly morphed to corporate training and courses for people who already had Masters degrees.