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Maybe wrongly, but I think of " an OC" as simply a very valuable tool to bring high quality education to the world. What a great export industry where the leading centers of intellectual property (such as US, UK, Germany, Canada, Australia...) has so much to provide others.. And, in a much better and easier way than every before.
But, why is "Open" a necessary ingredient? Open = free. Are valuable pharmaceutical products that cost $10s of millions to research (though pennies to produce) given away for free? Is there any evidence whatsoever that this stimulates people to innovate?
How about "Massive Online and Pretty Darn Inexpensive Courses" (MOPDIC). Yeah, right. Not very catchy, but isn't this the model that is the real end-game? Don't we want EVERYONE in the world to have access to great education at REASONABLE price? Fail, cost-effective in local terms and world class?
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So...where to start? These couple of paragraphs are pretty jam packed with things to pick apart, argue, debate and critique that it's almost like going into a candy store and not knowing what to get :-)  I guess I will start with the whole "leading centers of intellectual property (such as US, UK, Germany, Canada, Australia...)" bit.  For me this argument is very Western, and at that very Anglo focused. All of the countries listed as exemplars of this are former British Colonies, all speaking English, and all coming from the same intellectual tradition (if I am wrong, just leave a comment). The only non-English speaking country in this list is Germany and undoubtedly they have the same roots as the other countries listed. There are valuable insights to be had in non-western contexts and I think that MOOCs have the potential to reach out and spread some diversity in our educational sector.

Intellectual Property is an interesting notion, one that I won't elaborate a ton on here, but I do not think of IP as "property" in the proper physical sense.  If you are an academic, it is my belief that you should be releasing things out to the public, for the improvement of society as a whole, as opposed to hoarding it in some sort of antiquated IP scheme. Education isn't about making pills and selling a physical product, so products of intellectual pursuits (like academic articles) should be freely available.  This leads me to the Open part.

Open is a necessary ingredient. If you want a Massive Online Course (or MOC as you say), just do what we've done all this time with campus courses.  Cram a few hundred paying students in a giant blackboard section, which imitates a large lecture hall, and call it a day.  Nothing new to see here, nothing to challenge the status quo.  Open is important for two reasons:

• Open as having the freedom to share and remix is important because knowledge can flow out of the classroom without impediments, which can in turn allow for people to interact with the materials in unforeseen ways.  This, then, feeds forward to everyone else in the course.  Remixing, or using and expanding upon someone else's previous work, is something that academics have done for a very long time.
• Open as in free is also quite important.  How free is free is certainly up for debate, as I've written at other points in this blog. From a 30,000ft view the course and the ability to enroll and interact with the course materials, classmates, and facilitators should be without cost. If it's not, then you're back to that virtual large lecture hall, and we are just not there any longer at this stage of the game.  The optional costs, such as those required to be assessed by someone and get college credit, can cost some, and can be completely optional for the learner.  If a learner is content with what they've learned and have no need to an 3 college credits, why pay?