> Every graduate that doesn't find a high paying job in the field is an excellent candidate for the next level of education.1. You really think Berkeley's top-ranked PhD program is recruiting people who couldn't find jobs? No. Not only can 100% of successful top-tier PhD applicants find jobs, 100% of them are strong candidates for the top echelon on entry-level jobs.
If you disagree, go look up the people in Berkeley's CS PhD program. Point out a single person you think didn't turn down mid-100s job offers to attend Berkeley.
Getting into one of these top-5-to-10 PhD programs is no small thing...
2. MOOCs aren't PhD programs and in nearly all cases aren't designed to feed into PhD programs.
3. Finally, at least in CS, at least for the moment, educators are in extremely high demand. And again, at least for CS, that demand isn't being manufactured by the academy.