[ghaff]

Oh, I'm pretty sure they were all aware that credential value was ultimately going to have to be a pretty important component of getting people to pay more than a token amount. But the value of credentials is much more something that others confer on the credential than something the credentialing organization can confer on itself.

Sure, the organization can attempt to explain and promote how its credential provides evidence of X, Y, Z skills or knowledge. Which works reasonably for both well-established institutions and narrow vocational training (including in IT). But it's a lot harder to make a case that random MOOC course provides evidence of much other than a generalized interest in continuing education (for which you don't really need a credential to prove).