I think a large part of the issues is grading. You can scale up the number of students reached with online instruction but how do you assess them? Who will grade the papers and essays in the humanities and social science classes? Even in math or science which are probably the most amenable to being scaled up for online instruction, my exams were not primarily multiple choice. Many problems were a lot more complex than that and the solutions might easily have involved several pages in an exam book. Being graded by another student in a MOOC, while possibly a good learning experience, isn’t any kind of certification. If a University offers instruction online but the students are still being held to the same standards as those taking the class in the classroom, then I don’t see a big difference, if all you are concerned with is mastery of that course content.