[gaius]

A lot of these online courses/MOOCs tend to be heavily watered down, even when they're offered by major universities

I am curious as to your basis for this statement. Have you done many? Why would a prestigious institution be willing to dilute its brand in that way?

[seventhtiger]

It's not true in Georgia Tech, at least in OMSCS. After you finish 10 classes you will have done 20 to 40 projects and as many exams, in addition to homework and papers.

You will at least have a rich gitHub repository if you go through it. If you try your best you will also learn a lot and make connections.

The advantage of a part time masters is that the connections are of a much higher value. During your undergrad you and all your connections will go on the job hunt. In a part time masters some of your connections will be hiring.