For added value, Scott Newstok, who has much more patience than I do (and really should start showing up in the comments at this blog right here), picked this out of the comments to that story:
“As an MBA from a top school, the value I got out of my $100k and 2 years has NOTHING to do with the course content, all of which I could have and can look up on line and self educate myself, if I wanted to about game theory, or how to read a financial statement, or what a bottleneck is, etc, etc.
The entire value, which I can now appreciate, came from being for 2 years in a highly challenging, highly competitive environment surrounded by super smart people, being pushed to think and consider things in different ways and learning how to deconstruct complex challenges into bite size pieces, then reconstruct the situation to find solutions.
It completely changed the way I think, and for the better: I now know what questions to ask, in any situation, and how to recognize what it is I don’t know. My analytical skills have more than doubled.
None of that value could be obtained by a MOOC.”